I've been in the "its probably a unicorn bubble" camp and I think this is evidence of that, but does this really make a difference outside of those companies an

I've been in the "its probably a unicorn bubble" camp and I think this is evidence of that, but does this really make a difference outside of those companies and their VCs? What kind of situation could turn this into a systemic risk? Institutional investors getting involved? Is there any evidence of that happening? "Unicorn derivatives"? Is there any indication such a thing might exist? Seems like it is possible that a unicorn crash could just leave a bunch of rich guys in Cali somewhat less rich than when they started. And of course employees might be hurt by this I guess... especially the young ones who traded work for worthless stock. But you know what... I signed up for the army after 9/11 so I know what its like to get bamboozled in your 20's... it sucks but you get over it. If I was in their shoes though I would probably looking to cut my losses and liquidate too.