Need we fear a tech bubble?

THE first quarter of 2016 turned out to be disastrous for high-profile unicorns, or startup companies valued at over US$1 billion.

According to a quarterly global report on venture capital (VC) trends published last year by KPMG International, only five venture-backed companies in the US managed to join the exclusive billion-dollar club. Most companies faced layoffs, down rounds, and mutual fund markdown valuations.

Even the biggest was not spared. …