SEC Chief Warns Silicon Valley Against Inflated Valuations

Speaking at Stanford University, a cradle of high-tech invention, Mary Jo White called on richly valued private firms to behave more like public companies that must use a web of checks and balances to guard against misleading investors about their value or performance. White singled out so-called unicorns, startups valued at over $1 billion, questioning whether their worth has been inflated by “the publicity and pressure to meet the unicorn benchmark.”