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For what it's worth, those German Mittelstand companies are the exact opposite of what's usually referred to as a unicorn. They are small to medium-size, multi-
by heipei 6y ago
For what it's worth, those German Mittelstand companies are the exact opposite of what's usually referred to as a unicorn. They are small to medium-size, multi-generational family-run and family-owned businesses that focus on a very narrow set of products, such as just making gears for automative applications, or ball bearings, or blades. The people working there often work there their whole life, with the understanding that the company doesn't take any gambles and will do its utmost to not lay them off even in recessions such as right now.
- rorykoehler 6y agoDoesn't unicorn just mean $1B+ valuation?
- deleted 6y ago[deleted]
- andrewwharton 6y agoAnd that hasn't IPO'd yet.
- luckylion 6y agoI think it has to be a startup, i.e. recently founded, hyper growth, usually VC-funded. A company worth a lot of money that has existed for 80 years isn't a unicorn, it's just a company worth $1B+.
- rorykoehler 6y agoWhen is a startup not a startup anymore. Are Facebook and Google still startups?
- luckylion 6y agoIn my opinion they are not. They were and became unicorns, but they're not any longer, they are regular Fortune 500 corporations.
- kirubakaran 6y agoI like Steve Blank's definition of a start-up: "a temporary organization used to search for a repeatable and scalable business model" Once you're executing on a scalable business model, you're a regular business.