[7Figures2Commas]

> A couple of anecdotes about the last big tech bubble of 2000. At that time, there were 300+ optical networking companies in silicon valley. We had sold our network management software to about 150 of them. By 2003, only 2 were left standing. We survived because we had saved up some money for that eventuality, and we reinvented ourselves using those savings.

That's eerily similar to the situation today. A lot of startups today count other startups as their largest customer segment. It's not often talked about, but accelerators have greatly contributed to this trend.

The big question is how many of today's startup-dependent startups are saving their money and will be in a position to try to reinvent themselves when their customer ranks are decimated.