"It might be the best time for any kind of business in any industry to raise money for all of history, like since the time of the ancient Egyptians," an excitable Stuart Butterfield, CEO of Slack, told Farhad Manjoo in The New York Times in 2015.
Ultralow rates compress the dimension of time, making the future appear closer than it is. It's not surprising, therefore, that a large number of wildly extravagant startups got financed-luxury space travel, flying taxis, autonomous vehicles, and so forth. Due diligence took a back seat.
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