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Nellie Bowles – Silicon Valley braces itself for a fall: ‘There’ll be a lot of blood’

A sharply dressed French investor is leaning against a doorway, arms folded and his expression slightly bemused. Philippe Suchet is considering the latest raft of hopeful new technology entrepreneurs that have presented at 500 Startups – a major hothouse for up-and-coming Silicon Valley talent.

There’s no shortage of enthusiasm and ideas in the valley, but Suchet is sceptical.

“Things have been frothy, and you see a lot of dumb money. The music’s going to stop and not a lot of people will have a chair,” said 48-year-old Suchet, a 500 Startups mentor who says he’s been seeing companies now with $10m valuations and no product. “There will be a lot of dead bodies. A lot of dead bodies. There’ll be a lot of blood.”

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