
Party’s Over: Tech IPOs Collapse on Wall Street
The tech sector is no longer the hottest place to be on the stock market. Initial public offerings (IPOs) have plummeted in tech in 2015, putting the sector behind health care and financial companies.

The tech sector is no longer the hottest place to be on the stock market. Initial public offerings (IPOs) have plummeted in tech in 2015, putting the sector behind health care and financial companies.

Following Benchmark Capital partner Bill Gurley’s warning last week at the South-by-Southwest conference (SXSW) that “we are in a risk bubble”, Bloomberg, the Wall Street Journal and the New York Times all sounded the claxon horn Monday morning that New York hedge funds and mutual funds are flooding into late-stage venture capital-back tech companies in the futile hope of making a killing when the firms go public.
California’s Employment Development Department (EDD) announced that job growth in tech-strong Santa Clara County, a.k.a. Silicon Valley, hit 5.2 percent in February. Employment growth is now at the highest point since the Dot-com Bubble in 2001.