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As the Nasdaq sets new records, a reminder how highly valued tech stocks are today

Today the tech-heavy Nasdaq Composite closed at an all-time record high of 8,814.23, up 0.91% on the day.
The Nasdaq is up more than 32% on the year. Turning the clock back, the Nasdaq Composite is up around 60% from the end of 2016. Compared to the anti-records set in 2009 during the doldrums that followed the 2008 crisis, the Nasdaq is up a staggering 594%.
The huge run in value of technology stocks since the last recession is historic. And, given the length of the current global economic expansion, somewhat lost on regular folks.
Times are good, and it’s worth reminding ourselves of how good. After all, the private markets — the world of startups, venture capital and the next big companies — follow the public markets’ lead. If we understand what’s going on with tech stocks, we’ll better understand what is happening with your local startup cohort.
Or more precisely, if you’ve been confused about why every startup is worth a bajillion (plus or minus) dollars, this is why.

How many unicorns will exit before the market turns?
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