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In the ensuing years, warnings persisted: There is “blood in the water,” “winter is coming,” “this bubble will burst in due time.” But the money continued to flow. In 2020, U.S. start-ups raised what was a record $164 billion. nyti.ms/3JRLPXH

In the ensuing years, warnings persisted: There is “blood in the water,” “winter is coming,” “this bubble will burst in due time.” But the money continued to flow.

In 2020, U.S. start-ups raised what was a record $164 billion. nyti.ms/3JRLPXH

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