Netscape founder Marc Andreessen says startups are burning too much cash right now, at a rate similar to the 1999 dot com bubble, according to Business Insider. Andreessen went on Twitter last week to warn that overspending companies will “vaporize” when the broader stock market begins to go south.
As many in their mid-20s enjoy the riches from tech and dot-com companies in Silicon Valley, another section is struggling just to “get by” on their middle-class paychecks.
Dot-coms are about to get a lot more company now that the organization that oversees web addresses is set to approve over a thousand new domain name endings.
Only one in six high-tech companies that started in 2000 in Silicon Valley remained in business at the end of the decade, according to a report released Tuesday by the U.S. Bureau of Labor Statistics.