Wirecard is a financial services provider founded in 1999. I would not conflate their troubles with marginal contributions from start-up incubators that are chasing diminishing returns in the tech sector. The latter is just a result of a normal market cycle. Clearly, plenty of multimillion and multibillion dollar companies have been founded from start-ups in the past decade or two. And clearly we're reaching a point where it's more challenging to make a hit. That's ok, that's normal. Same thing happened in the auto industry 100 years ago:

https://en.wikipedia.org/wiki/List_of_defunct_automobile_man...

Look at all those manufacturers you never heard of.