"do they really expect this all the time" This is an interesting question. I don't know if they believe but they def want to believe because without unicorns,

"do they really expect this all the time" This is an interesting question. I don't know if they believe but they def want to believe because without unicorns, they won't survive as most startups fail or have mediocre returns which is not enough for VCs to justify to their own investors/LPs.