An obsession for the “rare” billion dollar startups, is becoming challenging for entrepreneurship, observes Michael Eisenberg of Aleph Ventures.
The term Unicorn was coined to describe a rare big opportunity that can be identified with this rare and mythical creature. Since its conception, the term Unicorns – innovative startups with a billion dollar valuation – have caught on as a trend and investors are looking for “the next big idea” in every investment prospect. However, the best big businesses were not created out of a financial pursuit, but to solve a core need, notes Eisenberg. Supporting innovative ideas may not necessarily create billion dollar companies, but trying to find mythical valuation in every innovation would certainly discourage many good innovations.
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