In 2013, when venture capitalist Aileen Lee coined the term “unicorn” to describe billion-dollar startups, only a few dozen companies fit the description. By 2021, that number had ballooned to over 1,200 worldwide. (Along the way, in 2015, Fortune announced “The Age of Unicorns.”)
Fast-forward to today, ands Jessica Mathews explores the trends behind the body count, and our newest tech correspondent, Jason Del Rey, delves into Bird, a scooter startup that was valued at $2.3 billion three years ago—but filed for bankruptcy in December.
