According to Janet Yellen, Chairman of the Board for the Federal Reserve System, thinks that throwing ones money into something like social media networks must be stopped. The Feds do think that the valuation metrics for some smaller firms in social media sectors seem to appear stretched by some. Just recently, an app that lets its users send quick messages that indicates the word “you” received a total of 1 million dollars in funding.
In addition, Cynk, a non-existent social media network is said to have fraudulently received a total valuation of $6 billion. Carmelo Anthony, who is an NBA star, is now pivoting to what’s called a second career, venturing his capital and says that he has always been interested with the technology business. For more information regarding this, got to the source.
Source: The Washington Post