As many have mentioned: the big wildcard here is how economically incestuous the startup world is. How many smaller startups are dependent on trickle-down from

As many have mentioned: the big wildcard here is how economically incestuous the startup world is. How many smaller startups are dependent on trickle-down from the unicorns? If the answer is "not too many" then it will not affect the other 99% of bootstrapped or less lavishly funded startups. If the answer is "a lot" it will be rough and have cascading follow-on effects. A major driver of the 2000 bubble was startups paying startups to advertise, market, or help build their startups. It was a classic bubble: an unintentional "emergent" pyramid scheme.