This happens the world over, in fact not just in the “startups” business, in virtually any business. Chances for survival for many businesses including those that seem to be doing well are slim. Venture Capitalist Jim Breyer thinks huge valuations have made startups arrogant and expects that up to 90% of Billion Dollar companies will fail, he doesn’t spell all doom, says that in the long term things will be good, especially in the artficial intelligence field.
Locally this will not be a big deal since most tech businesses raise money at valuations that make a lot more sense rather than in the Silicon Valley where it is more about how much hype you have created without exactly looking at how much money you have actually made
That would be elon Musk and “Google” i guess … i agree artificial intelligence is not yet viable business niche , but on elon musk , the guy is a pretty smart risk taker. Tesla is now successful , maybe space x too will be ok