Chet Bozdog, co-head of TMT Banking at Bank of America Merrill Lynch, was recently presenting data at their Technology Innovation Summit, and he shared this slide about private companies worth more than $1 billion.  It’s a good looking slide, but it is wrong. By a lot.

40 private companies are valued at $1 bln+ compared with 12 in 2000 – Chet Bozdog, co-head of TMT ibanking @BofAMLpic.twitter.com/IHQbQrMl81

— Leslie Picker (@LesliePicker) October 22, 2014

First of all, there are more than 60 private companies worth more than $1 billion today.  Next, Fab being on this is laughable. So bad data & bad insights. And one of the clearest illustrations of why having analysts Google around for info in investment banking is such a horribly broken process.

@LesliePicker Unfortunately, this is very wrong. Are over 60 worth $1B+. Fab on this list? @BofAML must be joking. https://t.co/KP8TlnhBaM

— Anand Sanwal (@asanwal) October 24, 2014

All that said, Chet Bozdog is one of the best names I’ve ever heard.  Ever.