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Why I Fucking Hate Unicorns and the Culture They Breed


Stashed in: @msuster, Black Swans!

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Oddly enough, these days being in Silicon Valley rather than SF proper gives you WAAAAYYYY less exposure to unicorn-think. I know plenty of startups grinding away on unglamorous but potentially lucrative technical tasks in the Valley... but these days they all have to truck up to the City to look for $$$.

Mark Suster is in LA not the Bay Area.

So his emotional outburst seems to have stemmed from unicorn culture striking a nerve:

I was trying to tell a real story about grit and risk and determination and seeing the markets early but struggling to persuade others. He smiled midway through my story and said, in broken English, “oh, you have unicorns!” No. We fucking don’t. We have companies that became valuable through founders that sacrificed for years and through hard work – and partly through luck – achieved great things.

But the status symbol of this milestone is driving investors, entrepreneurs, the press and everybody into thinking you magically can achieve this status in a matter of a few years with a great team and an astounding idea. The truth is that many “unicorns” have reached the status solely because the funding markets have said so. At least for now.

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