UNICORNS AREN’T RARE ANYMORE

December 17, 2021

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Technology is changing the world incredibly quickly. I’m excited to see where it takes us in the coming years.

One fact that illustrates just how quickly technology is moving is the number of tech unicorns.

Not so many years ago, the term unicorn was coined to describe a privately held company valued at more than $1 billion. The name clearly implied that these companies were so rare, they were nearly mythical. Times have really changed.

These days, there are nearly a thousand so-called unicorns. What used to be mythical has become a normal part of the investing landscape. What happened?

Compared to just 5 or so years ago, pre-IPO technology companies are getting much higher valuations.  It can be tempting to assume there is a bubble inflating. That could be the case. But it’s also possible that the markets are waking up to the magnitude of the value being created by tech companies and willing to make some big bets in hopes that a few payoff.

In the real estate industry, we’re seeing signs that fintech companies could offer interesting solutions, in particular for sourcing capital. It is still early days, but I will be watching the growing fintechs with great interest.

While investors may be taking big risks on these unicorns, this is undeniably great for consumers. We are getting innovative new products and services, subsidized by investors who are betting that their companies will hit a home run.

Technology is changing the game. It’ll be fascinating to see where we are in just 5 more years.

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