The pandemic trade that powered a host of tech companies is fading quickly. Facebook shares are off around 25% this morning, cutting around $200 billion from its market cap. Fintech stocks, depending on your index of choice, are off more than 2%. The Exchange explores startups, markets and money in a new weekly newsletter from TechCrunch+ or get The Exchange newsletter every Saturday at 10 a.m. ET. The question before us is simple: Can the investing dynamics of the venture capital market slow to the point that startup valuations (expectations, essentially) reach parity with potential exit valuations before too many young tech companies are priced like early- to mid-2021 exits are still possible? Early data says nope. . . .