The technology-heavy Nasdaq Composite index may be up a fifth this year but the private sector is still getting mauled. Year on year median valuations of late-stage start-ups fell 17 per cent in the first quarter, according to PitchBook data. There is no reason to expect a recovery this year.
以科技股为主的纳斯达克综合指数今年可能上涨了五分之一，但私营部门仍在遭受重创。PitchBook的数据显示，今年第一季度，处于后期阶段的初创企业的估值中值同比下降了17%。没有理由预期今年会出现复苏。
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