Emory Corporate Governance and Accountability Review
Abstract
Tech unicorns, from healthcare, teledentistry, space, ecommerce, trucking logistics, pre-owned cars, wearables, design, image search, to home-building sectors, receive effusive praises and secure enviable venture capital investments. Very soon after garnering notoriety, these unicorns die. This Article theorizes why unicorns suddenly collapse shortly after they have achieved the mythical status of being the rare tech startups with valuations of one billion dollars or more. With an in-depth case study of fallen unicorns, the Article identifies and examines the reasons for their tragic deaths, offering a critique of the fear of missing out (FOMO), overfunding, and irrational exuberance investors heaped on to these startups. The Article suggests ways to curb FOMO and the excessive waste stemming from unicorn deaths.
Recommended Citation
Xuan-Thao Nguyen,
Fallen Unicorns,
13
Emory Corp. Governance & Accountability Rev.
181
(2026).
Available at:
https://scholarlycommons.law.emory.edu/ecgar/vol13/iss2/1