Unicorns Are Rare. This Study Suggests They Should Be Even Rarer

For startups, achieving unicorn status is a big deal. Companies valued at more than $1 billion look more formidable to competitors, customers, and recruits---and less like the fly-by-night startups they may actually be. Thus, for the past three years, startup founders have asked investors to grant them billion-dollar valuations, regardless of whether they’re worth that by any traditional business metric.

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