True. I am cautious to say this, but if one of these over valued unicorns like Uber dies then I think the psychological effect would be similar to a bubble burst. It would tight up the capital flow to a great extent even for solid companies
Funds tout access, investors have downside protection with a potential of upside surprise, few people that do get nasty surprises are employees of those companies finding themselves staring at the ever-increasing number of newly minted shares to satisfy ratchet conditions and subsequent dilution of everyone else (case study on this is NYSE:BOX).