Untamed Unicorns: Why Startup Finance Is Broken and How to Fix It

The definitive account of the harms that have come from deregulating venture capital financing and allowing startups to become gigantic while remaining private.

The term "unicorn" for a private startup company worth $1 billion or more was coined to emphasize the rarity of such ventures. But today there are more than 1,500 of them, with a combined valuation of over $4 trillion. By remaining private, these corporate behemoths shield themselves from disclosure requirements, investor oversight, ...