Good Friday morning, Austin! Get ready for a wild ride. As global markets tumble following the stunning Brexit vote, Wall Street and the U.S. tech industry are bracing for some major ripple effects. Here's what's happening:
Brexit vote could be a blow to UK's startup industry
The British tech industry is in a tail spin today, with fears that the vote could have a significant impact on the UK's emerging startup sector.
Tech is one of the UK's fastest growing industries - expanding 32 percent faster than the rest of the UK's economy - and it consists of lots of early stage companies. Those startups rely heavily on EU grants to survive, and that funding could now be at risk.
As Henry Joseph-Grant, who helped to build JUST EAT in the UK from start up to IPO, told the Mirror : "The UK economy has benefited from a growing tech industry, we have had some truly global companies launch and be headquartered here, and the future looks very uncertain.
"I am hugely disappointed that our ageing population has had such a definitive say in the lives of the younger population who quite clearly wanted to remain."
What Brexit means to UK's gaming sector
The UK's thriving gaming industry is also weighing the potential effects of the referendum.
The vote puts a lot in question, from the price of games, to how easily UK games developers can sell their products in different countries, to whether it will now be harder for games developers from other countries to open studios in the UK.
For more on the UK's gaming sector, check out this in-depth report by Wired.
Finally a little good news
Who knows what will happen today, but yesterday was fantastic for Twilio, which rocked its IPO.
Analysts say the performance shows that "unicorns" -- tech startups valued at $1 billion or more - can go public successfully. But the fact remains that Twilio is just the third tech company to go public in the U.S. this year.
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