On the Road to Recap:
abovethecrowd.com
APRIL 20, 2016
In 1999, record valuations coexisted with record IPOs and shareholder liquidity. If 1999 was a wet (read liquid) bubble, 2015 was a particularly dry one. This severely heightens the risk of either running out of money or a complete recapitalization that wipes out previous shareholders (founder, employees, and investors alike).
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