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Photo: Ramin Talaie/Corbis via Getty Images

There's been a bit of correction in public tech stocks lately amid a larger market slump, and although Silicon Valley venture capitalists are telling Axios it could impact later stage companies who haven't been performing well, most founders will likely go unscathed.

The big picture: "Having a bit of air let out of the balloon could be a good thing," IVP partner Jules Maltz tells Axios. And having it happen on the private side also wouldn't be bad, adds another VC.

The takeaways:

  • Doesn't matter for the very young companies. Early stage startups are years away from maturity, says Menlo Ventures partner Venky Ganesan.
  • For later stage companies, it might reveal gaps: "You cannot work under the assumption that there’s easy money in the future," said Ganesan. "When the tide is in, everything is great, but when the tide goes out, we get to see who is swimming naked. ... So you’re gonna see companies that have not been performing so well not get rewarded."
  • But if you're a great company: Everything's gonna be fine, said all the VCs. Top private companies will be able to raise or go public, they confidently said (and not surprisingly).
  • And frankly, it won't affect most founders, a top Silicon Valley VC told me a few weeks ago. "When the market goes up founders look up... the private market valuations go up at the same time. ... When the market crashes, nothing happens with founders."

Go deeper

42 mins ago - Politics & Policy

McConnell drops filibuster demand, paving way for power-sharing deal

Senate Majority Leader Chuck Schumer (R) and Minority Leader Mitch McConnell attend a joint session of Congress. Photo: Olivier Douliery/AFP via Getty Images

Senate Minority Leader Mitch McConnell has abandoned his demand that Democrats state, in writing, that they would not abandon the legislative filibuster.

Between the lines: McConnell was never going to agree to a 50-50 power sharing deal without putting up a fight over keeping the 60-vote threshold. But the minority leader ultimately caved after it became clear that delaying the organizing resolution was no longer feasible.

2 hours ago - Technology

Scoop: Google won't donate to members of Congress who voted against election results

Sen. Ted Cruz led the group of Republicans who opposed certifying the results. Photo: Stefani Reynolds/Pool/AFP via Getty Images

Google will not make contributions from its political action committee this cycle to any member of Congress who voted against certifying the results of the presidential election, following the deadly Capitol riot.

Why it matters: Several major businesses paused or pulled political donations following the events of Jan. 6, when pro-Trump rioters, riled up by former President Trump, stormed the Capitol on the day it was to certify the election results.

3 hours ago - Politics & Policy

Minority Mitch still setting Senate agenda

Illustration: Aïda Amer/Axios

Chuck Schumer may be majority leader, yet in many ways, Mitch McConnell is still running the Senate show — and his counterpart is about done with it.

Why it matters: McConnell rolled over Democrats unapologetically, and kept tight control over his fellow Republicans, while in the majority. But he's showing equal skill as minority leader, using political jiujitsu to convert a perceived weakness into strength.

You’ve caught up. Now what?

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