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David Spreng

David Spreng

Fortune

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Unicorns are flush with cash and stuck. A new kind of startup crisis is taking hold in 2026

For a decade, the biggest challenge for high-growth startups was raising capital. Now, for many unicorns, the cap table itself has become the trap.

yesterday 2

Fortune

David Spreng

Private credit: what critics miss and what founders need to know

The critiques of private credit too often focus on headlines and hypotheticals, rather than on structure, incentives, and outcomes.

17.10.2025 4

Fortune

David Spreng