With cash reserves drying up and investors scarce, the coronavirus pandemic has gutted many startups. Enter the 'Undertaker of Silicon Valley': The mere mention of his firm's name in meetings incites panic.
Co-founder Martin Pichinson stands behind a window at Sherwood Partners, which helps shut down startups in financial trouble.Co-founder Martin Pichinson stands behind a window at Sherwood Partners, which helps shut down startups in financial trouble.Monikers have followed Martin Pichinson for his whole career, given his line of work. He winds down technology companies, selling off their assets in their final days.
Silicon Valley has developed a reputation for building up companies at hyperspeed, propelled by mega-financed investment that can result in overnight fortunes or colossal failures. He expects the number of startup companies that he is ending from the coronavirus downturn to exceed the carnage left behind in the dot-com bust.
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