Asian venture-capital firm that invested in TikTok says it has lost 40% of its value over the past few months

This is another sign that the big tech boom might be coming to an end. It isn’t the best time for tech companies as there is a huge threat of an economic downturn in the coming year. Billionaire Li Shau-kee knows this best, as his venture-capital firm has lost 40% of its value over the past few months. The firm is called Horizon Ventures, and it has invested in companies like TikTok, Zoom, Facebook, OpenAI, Spotify, and Snapchat. He is known as “Superman” in Hong Kong, where he is based.