The latest Hollywood take on Silicon Valley: “Unicorn Hunters”
In a new show that debuted on Amazon Prime this week, venture-backed companies face a panel of potential investors – including former NSYNC member Lance Bass and co-founder of Apple Steve Wozniak – who grill them on their activities and decide to delete a Check.
Why is this important: “Unicorn Hunters,” bills itself as bringing the business of pre-IPO investing to the general public and as “a master class for the people out there,” Bass tells Axios. The title is a play about the “unicorn” – the industry nickname for startups valued at over $ 1 billion.
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Part of the talk of the show is to “democratize wealth creation” by allowing people at home to invest in these private businesses as well. Think of “Shark Tank”, except you, the spectator can also participate in the transaction.
What they say: “If we learned anything from the Robinhood-Gamestop-Reddit thing back in January, it’s that the masses are raising their hands and wanting to invest,” the show co-creator and panelist Moe Vela told Axios, se referring to social networks have fueled a rise and fall in prices from the video game retailer earlier this year.
Yes, but: This opportunity will ultimately be primarily available to accredited investors (requiring an annual income of $ 200,000, net worth of $ 1 million, or a professional financial license) given US laws on fundraising 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 thoughtful decisions.
Our thought bubble: The show falls into a difficult period of taking into account the creation of wealth, who has access to it and how.
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