By the end of 2015, investors had given 152 tech startups "unicorn" valuations of more than $1 billion. But now, valuations are deflating for many private and public tech companies. Is this 2000 all over again? No. The bubble popping will mean job loss in Silicon Valley and a pullback in disruptor investment, but not a collapse of tech spending or of the wider economy. Chief marketing officers (CMOs) should use this moment to encourage increased customer obsession as a way to catch up with customers and partner with the surviving disruptors on more equal footing.