2023. 11. 29. 02:19ㆍ경제정책 정리
Nowadays, there is a lot of discussion about new alternatives such as "bootstrapping" as the success equation of "Startup = Unicorn" is cracking. Meanwhile, Zebra appeared as a unicorn rival. I found some interesting linked-in posts in this regard and shared the translation to DeepL. (In the comments for the original link) //
Start-ups and investment industries are obsessed with unicorns.
I have personally opposed the idea that focusing solely on achieving unicorn status is the only way to succeed.
🦄 Unicorns are defined as such:
- A company that grew rapidly with an enterprise value of $1 billion and eventually succeeded in IPO.
- It's an extremely rare and elusive legend.
- Uber, Airbnb is a few companies that most people think are unicorns.
On the other hand, 🦓 zebras do not:
- A specific subset of start-up companies that focus on sustainable growth,
- Find creative means of growth, not pure capital acceleration.
- Companies like Hubspot and Atlasian come to mind.
This type of investment is emerging as a more attractive investment destination.
The reasons are as follows:
1/ Risk-to-Profit
🦄 Unicorns seek short, steep, and aggressive hockey stick-style growth.
🦓 Zebras pursue slow, steady, and sustainable growth over time.
Unicorns are notorious for their high risk. Longer investment periods mean less risk-taking and attractive results when investing in zebras.
2/ Real value and influence from day one
🦄 Unicorns often spend their capital to gain users at a rate that outperforms other companies (aka growth at all costs).
🦓 Zebra focuses on creating products that add value to customers and reduce displacement.
3/ Zero Sum vs Win Win
🦄 Unicorns want to dominate the market with a clear winner.
🦓 Zebras win together, sharing resources and insights through coexistence and cooperation.
It is important to focus on the basics of sustainable growth and securing profitability, especially in times of great uncertainty like now.
It's not surprising that many investors are looking for Zebras today.
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