Remember pets.com and webvan.com? They are the poster children for the 1999 dot com correction. This may be the 2016 version of that. I suspect money managers like Fidelity will pull back sharply on late stage private equity investments after getting burned by a couple unicorn flameouts. A $90M doughnut from a jet.com will eat up a lot of 10-20% wins from other investments. Look out.