Gurley says late-stage private market is the frothiest since the late '90s despite down IPOs.
“I would say on a couple of fronts, the late stage private market continues to be the most frothy thing I've seen since the late '90s.”
Gurley says capital available to late stage private companies is unbelievable with behavior reminiscent of the late nineties.
“the amount of dollars available to successful late stage private companies is unbelievable. And the behavior that you'll see for the competition in those dollars is very reminiscent of the late 90s.”
Gurley says late-stage private funding behavior is very reminiscent of the late 1990s bubble.
“And the behavior that you'll see for the competition in those dollars is very reminiscent of the late 90s.”
Gurley calls late-stage private market of past two years the most reckless investment behavior since the bubble.
“I think if you look back, could say over the past two years, the most reckless investment behavior we've seen since the bubble was the late stage private market of the past two years.”