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.”
Gurley traces late-stage private market boom to Yuri Milner's contrarian Facebook bet below ten billion valuation.
“And a very, very smart man, Yuri Milner makes a bet on Facebook at a price that seems fairly high.”