
Unicorns, Cheshire Cats, and the New Dilemmas of Entrepreneurial Finance (2018) - my_first_acct
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3244068
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my_first_acct
From the abstract:

> The ease of new firm formation and the enormous amount of capital available
> has resulted in to a situation within which new firms can afford to run
> massive losses for long periods in an effort to dislodge incumbents or
> attempt to triumph over other lavishly funded startups. The result has been
> remarkable turmoil in many formerly stable industrial sectors, as the new
> entrants fueled by capital investments undercut incumbents on price.

