Link: Billionaire CEO and investor Marc Benioff says unicorn startups manipulated private markets and he’s done investing in them

“The unicorn thing, I’ve been saying for a while now, is not great,” Benioff told Stephanie Ruhle on Bloomberg GO earlier this week. “The reason why it’s not great is not necessarily that these companies are not worth this much money or whatever — we don’t actually know because they’ve manipulated the private markets to achieve these valuations.”

“There is no reason why these companies who claim to be worth billions of dollars and making billions of dollars to stay private,” he continued. “They need to get out on the market, run their companies with the right level of governance, and let the market rationalize these valuations.”

“Being a public company is good. It forces us to make sure we keep the cadence…we have to keep our eye on the ball,” Benioff said. “The unicorn mania that’s going on, that’s dangerous for our Silicon Valley economy.”

Hey, he’s got all sorts of biases where this view favors him and Salesforce…but that doesn’t mean it’s wrong-think.

Source: Billionaire CEO and investor Marc Benioff says unicorn startups manipulated private markets and he’s done investing in them

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