Are US investors ignoring ripe startups in China? Sir Michael Moritz, the chairman of Sequoia Capital, predicted in an interview with the The Times of London that a bunch of Silicon Valley bubble will soon burst and many young, private technology companies will disappear in the coming years:
There are a whole bunch of crazy little companies that will disappear. There are a considerable number of unicorns that will become extinct.
Moritz argued that the investor dollars flowing into Silicon Valley could be better allocated to other locations around the world, including China.