Technology startups are headed for a fall
The consequences will not all be bad
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FOR A SENSE of how covid-19 is affecting the world’s technology “unicorns”, as privately held firms worth $1bn or more have come to be known, consider two of them. Lime, a scooter-rental firm valued at $2.4bn, has halted its services in Europe and America, where most citizens have been told to stay off the streets. DoorDash, a $13bn food-delivery company, has suddenly found itself useful to a self-isolating society as a whole, not just couch potatoes; deliveries have surged.
This article appeared in the Briefing section of the print edition under the headline "Exit unicorns, pursued by bears"
From the April 4th 2020 edition
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