Unicorpse: Speculation In The High Tech World Has Ended

Unicorpse: Speculation In The High Tech World Has Ended by Christopher Pavese, Broyhill Asset Management

Speculation in the high tech world appears to have ended early this year.  As noted by Prem Watsa, in Fairfax Financial Holdings’ Annual Letter to Shareholders:

“The speculation in private high tech companies (the most valuable of which are known as ‘‘unicorns’’) has also ended with a thud. A friend of mine said the new name for these companies is ‘unicorpse’ as many of them cannot fund their losses internally for more than a few months and now have almost no access to external funding. The table below shows the companies mentioned in last year’s Annual Report.”