Fasal's financials in bad shape. Vendor payments delayed.

Ouch that's sad to hear. Was rooting for them do well. One of the companies with a great vision

This is bound to happen. There has to be a deep reset of startup valuations, salaries and burn. Things will have to get really bad for this industry to become sensible.
For people that are being paid 2x of their worth, when they are laid off they still expect to get paid the same. This expectation has to break, which can only happen with a sustained bloodbath.

Expectations have to become realistic again so companies can burn less on salaries and then capital requirements will go down which leads to normalisation in valuations.