

How to Build a Unicorn from Scratch – And Walk Away with Nothing - jedc
http://heidiroizen.tumblr.com/post/118473647305/how-to-build-a-unicorn-from-scratch-and-walk

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hga
Without focusing on the details, I note the #1 issue here is failure to create
a profitable company. Which strikes me as so common an outcome that it can't
be called a unicorn.

And not getting anything after you build an unprofitable company is also very
common, if not the most common outcome.

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fsk
Consider the same story, but the ending is "The company was squeaking out a
$1M/year profit, but a buyout offer came for $240M and the investors took it
so they could cash out."

As an individual, if I could make a business with consistent $200k-$500k/year
profit (as the sole shareholder), that'd be great for me. It'd be better than
being an employee. But that would totally be an unsuitable business for VC.

