Povestea unicornului

Richard fantasizes about being named a member of the Unicorn Club by the press. His employees calculate the huge paper gains on their options – they will all be instant millionaires – and since no one is more than ¼ vested, they are all highly motivated to stay in spite of long, long work hours. BTV is thrilled with the 20x markup on Pied Piper, since they are about to hit their LPs up for a new fund. The original investor, Peter, has achieved legendary status – his $1 million has turned into approximately $200 million on paper. He’s on the YC VIP sneak preview list, he’s been offered a spot on Shark Tank, and Ashton just called to try to get into his next deal.
Of course, that $200 million for 20% stake also comes in with a senior 1x liquidation preference in order for Hooli to create sufficient downside protection and thereby justify the $1 billion valuation to their board.

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