Following up on our newsletter topic last week regarding Fidelity's startup write-downs.....the question is now that these mutual fund haircuts have come to light, are Silicon Valley's hottest startups going to be more reluctant to take investments from these large money managers? After all, they are now basically semi-public. Apparently, some of the startups were unaware that certain investors regularly adjust the valuation of their holdings and report them publicly. Also, should other VCs be following Fidelity's lead and marking down their portfolio if it contains these startups?