One of the biggest days in the startup calendar is Y Combinators’s pitch event. This year, the incubator’s president Sam Altman, put a downer on the day by criticising the overly high valuations on new tech business.
“I don’t think founders have to take lesser valuations — their valuations are very, very high,” Business Insider reports Altman as saying.
“I don’t think it’s necessarily good when companies are able to raise money at very high valuations, or raise lots and lots of money” continues Altman.
It’s said a Chinese curse is ‘may you live in interesting times’, for new businesses ‘may you have too much money’ could be equally bad news.