M&A velocity is completely changing the funding dynamics and even the product roadmaps for security startups. Mega-rounds for unicorns are sucking a lot of the VC oxygen out of the room for the next tier of startups, but those 2nd-tier companies have other avenues for exit that they need to be aware of. Constantly evolving attack vectors from adversaries pretty much guarantee that security technology will never be allowed to "mature" (by classic standards) and companies in all sectors need to acquire security technology & talent to keep up with these threats.
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