Reuben Wu
Summary.
High-growth tech start-ups are the business miracle of recent decades. So-called unicorns—private venture-backed companies valued at $1 billion or more—have changed the fabric of our lives and transformed the way we do business. These firms, concentrated in capital- and talent-rich cities such as Palo Alto, London, and Tel Aviv, are a source of inspiration for entrepreneurs and corporate managers around the world. Most seem to follow the same playbook: Begin with a plan to “disrupt” an existing industry, use injections of capital to grow as rapidly as possible, and tolerate high risk in a rush for market domination.