The great Silicon Valley shake-out

The share price of Impossible Foods, maker of meatless meat, has fallen by 17% since January. (Image: Getty)

Sat, 02 Jul 2022

On a busy street in downtown San Francisco sit the former headquarters of Fast, a maker of check-out software for online merchants. The offices look quiet; a for-let sign hangs above one of the windows. That is a departure from its management’s flashy habits. Last year at an event announcing Tampa as its East Coast hub, the firm splurged on backflipping jet-ski riders and pickup trucks straight from the Nascar racetrack. Fast had set investors’ pulses racing, too. It raised US$125 million (NZ$200m) between 2019 and...

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