Zombie unicorns: The undead startups haunting Silicon Valley's venture capitalists
By
The Economist
Summary
The article discusses the phenomenon of "zombie unicorns" — startups that were once valued at over $1 billion but have since declined significantly, becoming shadows of their former selves. These zombie unicorns are troubling venture capitalists in Silicon Valley, as years of inflated valuations have created a lingering problem in the startup ecosystem.
Source
Twitter / XZombie unicorns: The undead startups haunting Silicon Valley's venture capitalistseconomist.comKey quotes
· 4 pulledFANTASTIC BEASTS roam Silicon Valley.
Locals are familiar with the unicorn, a startup valued at more than $1bn, the decacorn ($10bn) and even the hectocorn ($100bn).
Lately, however, another creature has been stalking the land: the 'zombie' unicorn, a firm once worth $1bn-plus but now a mere shadow of its former self.
Their spread is keeping venture capitalists (VCs) awake at night.
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