It happened again. Some unknown startup with no product came out of stealth in Mountain View and announced a $50M “seed” round. VCs are all over CB Insights to see who got in. Just next door in Palo Alto, a startup that launched 6 months ago is on its way to become the next unicorn in town thanks to a $300M investment round led by the Bay’s top investors.
Unicorn… The only mention of this term is enough to send the most collected VC into a frenzy. The chase is now on to pump as many millions as possible into the most ridiculous idea and morph it into the shape of a rainbow horse with a protruding horn and a deformed forehead.