In Australia, Meta and Twitter have cut jobs, with Amazon-backed Deliveroo shutting its doors and putting thousands of riders out of work. Venture capital markets have turned away from cutting big cheques for cash-burning start-ups, with the ultrafast delivery sector in particular facing a crunch. Even high-flying, cash-producing firms such as Canva have faced a reality check – with the Australian success story seeing its market valuation slashed by 44 per cent. “There was just so much growth in Silicon Valley and tech firms broadly over the last two years and so much of it was key to the particular...