With just two sentences, Jon Stein can make you question everything you thought you knew about the startup world in 2016.
"It was a good market to be raising," Stein told Mashable on Tuesday morning, shortly after his financial services company Betterment announced raising a blockbuster $100 million round of venture capital funding. "I've never before seen so much interest."
Hear that noise? It's the sound of hundreds of startup founders weeping as they ride their hoverboards into the sunset.
For a brief period in 2014-2015, it seemed like investors, flush with confidence from a strong stock market and the success of businesses like Facebook and Amazon, were willing to hand over millions to any startup that compared itself to Uber in a pitch deck. Giant rounds, like Betterment's, happened every week, if not more frequently.
Then the music stopped.
Jon Stein, CEO and founder of Betterment, a financial services startup that announced raising $100 million this week.
The stock market had a terrible start to the year, dragging down tech darlings in particular. Mutual funds, the big money fueling the tech boom last year, have largely backed off tech star