The Unicorn Explosion: Ammirati on Innovation

The Big Themes:



Plotted on a bell curve: Some are amazing, and
some are terrible – and some are in the middle.


Stability is not the issue: There’s capital
behind these companies that give you the same amount of runway
you could expect from any of the other kinds of companies.


The term unicorn was coined: You needed to
raise money at least a billion dollar valuation from one
company in your portfolio to make that portfolio be a top
performing venture portfolio.


Microsoft and Nuance: You have the sales, the
partnership, and the marketing muscle that a company like
Microsoft can provide.



 


The Big Quotes:


“But the more interesting thing to me was that in the first five
months of 2021, there were 187 companies that for the first time
raised money at over a billion-dollar valuation.”


 


“The thing that's more concerning to me is I think there's a lot
of reflection we, as an industry, need to do on the right way to
create healthy corporate governance among these companies.”


 


“And I think it's time for CFOs to stop worrying about just doing
the logistics.”


 


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