10 yrs after coining Unicorn, the tech industry has changed a TON🦄
✨From 39 to 532 unicorns
✨BIG shift from consumer to enterprise
✨Unicorns became WAY less capital-efficient
And with AI, we expect a new crop of 1,400 unicorns by 2033🎉
Full post 👉 bit.ly/3Sn9Flv
Jan 18, 2024 · 3:37 PM UTC
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2/ Capital efficiency tanked for unicorns - from 26x for enterprise & 11x for consumer in 2013 to 7x for both by 2023 🤯
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3/ As more industries adopted software, Unicorns showed up in new places!
We now have 19 categories with unicorns ⭐️
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4/ The pendulum swung HARD from consumer to enterprise 💼
Today, 78% of unicorns are enterprise companies vs 38% in 2013!
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5/ With the market reset, there are many “Papercorns” that may become fallen unicorns 😲
Especially since 60% last raised during peak times...
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6/ But, today marks the dawn of a new area for tech - with AI, unicorns can be created with much more capital efficiency 🦄
We predict a fresh crop of unicorns over the next decade!
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7/ Our team is excited to back the next generation of exceptional founders - at the earliest stages of their journeys towards building unicorns ✨
Connect with our cow-lleagues @aileenlee @Jillwillnyc @allegra_v2 @amanda_robs @matt_lu_!
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8/ Thank you SO much to the many friends of Cowboy who read drafts of this post & provided valuable feedback 🤠
In particular - @ElisaSchreiber @mlinhuawu @jennylefcourt @rebeccakaden @kerby @ttunguz @barbmessing & the awesome team @TechCrunch✨
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