Several years ago, I was chatting with a friend who’d become an investor about an idea I had for a startup. It wasn’t a pitch: I just wanted to see what they thought of my premise.
“That sounds like a solid lifestyle startup,” they replied, “but most investors I know are only looking for billion-dollar companies.”
The fundamentals of venture capital explain why investors are on a perpetual unicorn hunt, but “even markets with a seemingly dominant player can support multiple winners,” writes Rebecca Szkutak.
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To learn more about the winner-take-all strategy that underpins tech investing, she interviewed:
- Marco Zappacosta, co-founder and...
