Peak Unicorn: Hooves of Doom
June 23, 2016
I loved the phrase “peak unicorn.” The co9mbination of mixed metaphors and a mythical horned equine is delicious. Navigate to “The Unicorn Godmother Dishes on Silicon Valley.” I find the addition of a “godmother” a bit like a 1958 Chevrolet Impala with additional chrome bolted on by an ambitious retro rod shop. Unicorns, peaks, and godmothers!
The main point of the write up in my opinion is not fruit salad metaphors. Here’s the passage I highlighted in passion fruit reddish purple:
I think we’re in a valuation-adjustment period where we’ve basically had very bullish markets both in the private and the public sectors for tech stocks over the past three to five years, and valuation multiples just got out of whack. There was too much money pouring into tech; and a perception developed that the only way to win was to offer a higher price. You know if there’s one house in a neighborhood that everybody wants, generally the way to get the house is to offer a higher price.
Yes, real estate. The “value” of a house in Holmby Hills compared to the value of a home in Pig, Kentucky.
The write up makes clear that some folks in Sillycon Valley may be getting nervous. Time to cash in and enjoy the good life. Unicorn farming in Pig, Kentucky? Search and content processing vendors are welcome too. A quick trip via flying car I hear.
Stephen E Arnold, June 23, 2016
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