Tech Unicorn Valuations are Fake
Introduction
Hello everyone – it´s been a couple of months since my last podcast episode – I took some time off...It´s great to be back with you again.
After some thought, consideration and a couple defining events, and an announcement by Pitchbook, one of the so called data analytics firms in the VC space, I decided it was imperative that I do an episode in my Unicorn Mania series. I´ll fill you in on the PB announcement I am referring to in a moment – it´s insane!
Before we jump into the episode though, I wanted to pay recognition and acknowledgement to a wonderful Brazilian singer and artist, Gal Costa. My intro music and exit music is Aquarela do Brasil by Gal Costa. Gal Costa passed away on Nov. 9, 2021. A makpr talent in Brazil, I thoroughly enjoyed her music. She will be missed.
So, let´s jump into this edition of Unicorn Mania:
If you´ve followed this podcast in the past, you are aware that in the UnicornMania series I highlight the largely fake, deceptive valuations of VC-backed private technology companies – Which are Fondly called Unicorns...Isn´t that cute?
For background, I refer you to my first episode in the UnicornMania series, March of 2020. Episodes 5 and 6 also deal with this twisted freak show perpetrated by VCs, the tech & financial press and others that engage in all of this Unicorn nonsense. I encourage you to go back to Episode 1 for insights and valuable background information as to why I categorically state and prove that tech Unicorns, a VC-backed tech company allegedly with a $1B or more valuation, are indeed mostly fake…
Let´s start off with some levity and have a little fun, shall we, at the expense of Sil. Valley VCs? I read this a couple years ago in a CrunchBase piece;
There´s an old joke about a new bar in Sil. Valley. On opening day, 6,000 people showed up. No one buys a drink. The business is declared a roaring success! [This joke will hopefully make perfect sense by the time we finish this episode. Only in SV culture would the above be considered a success! In Sil. Valley, comedy often becomes reality
To briefly review, let´s start with some basics I will get into in this episode:
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