Ian Guider: Tech firms may need to adjust to the new austere reality

Bill Gurley, the Silicon Valley veteran, said that the days of soaring valuations are over, with a more modest era about to unfold

Silicon Valley veteran Bill Gurley blames the era of ultra-low interest rates in the United States for the vast sums flowing into start-ups and inflating their values, an era that has abruptly come to an end. Picture: Bloomberg

Bill Gurley knows a thing or two about the tech sector. As a partner in Benchmark Capital in Silicon Valley, which has invested in some of the world’s biggest tech companies, he is one of the best-known names in venture capital.

He has come to wider prominence of late as a result of the TV show Super Pumped, which charts the rise of Uber, where he was initially a mentor and later tried to oust ...