For months, the recriminations for investors have been everywhere. We had a tech bubble burst 20 years ago. How did we let it happen again?
America's tech companies were worth two or three times more in fall 2021 than they are today. Venture funding for tech startups dropped by half last year. Layoffs at tech companies accelerated all last year, hitting a new peak when Amazon last week said it would cut 18,000 workers.
The crash started earlier for financial tech (or fintech) companies like Minneapolis-based Sezzle Inc. It laid off 20% of its workers last February. It then shut down offices in Europe, Brazil and India. From 580 at its peak in 2021, Sezzle now employs 280.
