In a recent blog post Mark Cuban writes that we are in a tech bubble that is worse than 2000. He is not referring to public companies but to the private equity market. The difference is that back in 2000 the companies were public and there was liquidity to the market, today,there is minimal liquidity for many of these investments.

Such public investments include equity crowd funding. Cuban estimates there are about 225,000 “angel” type investors overall.

Cuban writes “I have absolutely no doubt in my mind that most of these individual Angels and crowd funders are currently under water in their investments. Absolutely none. I say most. The percentage could be higher.”

“…the only thing worse than a market with collapsing valuations is a market with no valuations and no liquidity.”