Virus outbreak delivers tech darlings a harsh reality check

Just as the coronavirus outbreak has boxed in society, it's also squeezed high-flying tech companies reliant on people's freedom to move around and get together. Since the beginning of March, for instance, Uber shares have lost a quarter of its value. Rival Lyft is down 28 percent. Over the same period, the S&P 500 has fallen just 10 percent, even with wild swings along the way. The picture is even less clear for other, still-private "unicorn" companies once valued at more than $1 billion, such as Airbnb and WeWork. "What market pressure will mean for all companies is survival of the fittest," said Allen Adamson, co-founder of the marketing firm Metaforce and a business pro...Keep on reading: Virus outbreak delivers tech darlings a harsh reality check

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