Top VC Reveals 3 Ugly Truths About AI-Era Valuations, Talent War, and Dilution
davidyin44 · x · 2026-08-14
Harry Stebbings highlights three harsh realities the venture industry refuses to admit:
- Valuation Bubble: 2021 valuations no longer hold. Airtable dropped from an $11B valuation to a $2B acquisition, while Canva slashed growth targets amid cannibalization by OpenAI.
- Talent War: Companies cannot compete with the massive compensation packages offered by OpenAI and Anthropic, leading to an exodus of top talent even from Google.
- Record Dilution: Stock-based compensation (SBC) is higher than ever, heavily impacting investor returns while normalizing massive CEO pay packages.
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