Hollywood’s Latest Take on Silicon Valley: “Unicorn Hunters”
In a new show that debuted on Amazon Prime this week, the venture-backed companies face off against a panel of potential investors – including former NSYNC member Lance Bass and Apple co-founder Steve Wozniak – who questions them about their activities and decides to cut a Check.
Why is this important: “Unicorn Hunters,” bills itself as bringing the art of pre-IPO investing to the mainstream and as “a masterclass for people out there,” Bass told Axios. The title is a play on “unicorn” – the industry-wide nickname for startups valued at over $1 billion.
- Part of the show’s narrative is to “democratize wealth creation” by allowing people at home to also invest in these private businesses. Think “Shark Tank”, except you, the viewer can also participate in the case.
What they say : “If we learned anything from the Robinhood-Gamestop-Reddit affair in January, it’s that the masses are raising their hands and wanting to invest,” co-creator and panelist Moe Vela told Axios, referring to the award. suddenly fueled by social media. video game retailer’s leap and fall earlier this year.
Yes, but: This opportunity will ultimately be primarily available to accredited investors (requiring annual income of $200,000, net worth of $1 million, or financial professional license) given US fundraising laws for private companies.
- The companies themselves run the investment process, not the show.
- Vela points out that the show aims to make it very clear to viewers that these are risky investments and that they need to make well-considered decisions.
Our thought bubble: The show falls into a tricky period of calculating wealth creation, and who can access it and how.