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To mark down your portfolio or not mark down your portfolio? That is a question many venture capitalists are grappling with right now.

But first, what does that mean? VCs keep a running tab of the value of each fund and entire portfolio based on the prior valuations each company raised at. The value of each company generally only gets updated when it raises a round at a new valuation, and firms typically do a full valuation audit at the end of each year.

While, yes, venture capitalists only have to audit the value of their portfolios once a year for their LPs, it’s generally considered good faith to do so if there is an outsized adverse event impacting a specific company or the whole portfolio.

As market conditions continue to get worse, and company valuations continue to fall, many VCs are sitting on portfolios with outdated and inflated valuations. I’d venture that it would be wise for investors to take a look now and avoid waiting until the end of the year.