Culling of the herd will now begin

Good article discussing the oh-so-necessary adjustments to valuation of some (a large number?) fintechs. Suggests that many fintech unicorns perhaps are not fintech unicorns. Or at least won’t be after this economic hit is priced in. About a two-minute read.

Comment: while this will be tumultuous, valuations were indeed excessive and, in some cases, out of control. But there is good news: The Big Banks will embark on an unprecedented wave of acquisitions. Good times for all.