The main point of the paper is that whole Hi-Tech industry (i.e. Startups also as part of that industry) consumes more capital from the rest of the economy than

The main point of the paper is that whole Hi-Tech industry (i.e. Startups also as part of that industry) consumes more capital from the rest of the economy than gives back to the economy (especially it is true for consumer products oriented hi-tech companies). This situation was possible due to constant money issuing to the economy via finance sector. That process started in the late 70 and often called as Reaganomics. More details are in paper. In general if issuing of money stops, the 25-35% of USA economy will disappear. Most of that 25-35% are Hi-Tech companies. So, economics of startups are in danger. VCs firms don't have hot money anymore for funding. No more easy exits such as IPO and aquisition. Customer spending are going down. And it will become true very soon :-(