People complain about an "IPO shortage" and the problem of VCs capturing all of the pre-IPO growth. But if there's a silver lining here, it's that VCs can pull

People complain about an "IPO shortage" and the problem of VCs capturing all of the pre-IPO growth. But if there's a silver lining here, it's that VCs can pull this shit until the cows come home without causing the same systemic problems that led to the first dot-com crash. They tend to have a small handful of wealthy LPs, and the financial system doesn't really give a shit if they get wiped out - grandma's pension may not be growing fast enough, but it's not going to evaporate. In this case, SoftBank and the Saudis run away with their tail tucked, and everyone else just looks at them like they were idiots and moves on.