Why is the magic of unicorns fading?
Over the past few months we've seen the IPO market go from hot to not, with proceeds slowing more than 50% in the third quarter when compared to the prior period. Business Day TV has put into focus the unicorns… the nickname used for startups with private valuations of $1 billion or more - that are losing large amounts of money. Uber and Lyft continue to sink below their offering prices, while WeWork's delayed its listing as its valuation drops. John Colley from the Warwick Business School shares his analysis with Business Day TV.