In March, investor Bill Gurley made headlines with his pronouncement that “a complete absence of fear” would lead to dead unicorns this year. Venture capitalist Marc Andreessen warned in a tweetstorm that startups with high burn rates would “vaporize.” Last week Salesforce CEO Marc Benioff also predicted dead unicorns as startups seem to focus more on their valuations than their customers.
I have been talking about the ‘Idiocy of Unicorns’ for a while – though not really writing – other than this where I referenced Doug Henwood. That said I think they survive because there truly is a ‘Confederacy of Dunces’ / ‘Emperor’s New Clothes’ at play here. Thank god then for some sanity from Brad Feld, who in turn references others – but who – despite being famously ‘on’ – and successful people in their own right – are not commented on or referenced in mainstream media.