> Companies being devalued is not news. It happens on the stock market everyday

TFA points specifically at "recent funds" that have underperformed public markets.

  More recently launched funds have been returning markedly less money to investors than those of earlier vintages, according to the World Economic Forum. They have also underperformed the S&P 500 by a wide mark, particularly those that did not invest in a small club of artificial-intelligence superstars, says Mr Cohan.

Power law at play, apparently: High risk with high rewards only for the top 5%.

  ... already, just 5% of them produce 90% of its profits.