The Minutes of Bill Gurley on unicorns https://minutesof.com/bill-gurley/on/unicorns/ Everything Bill Gurley has said on unicorns: 4 verbatim quotes between March 2015 and January 2025, each with a timestamp and a link to the recording it… en Sun, 30 Aug 2026 16:22:00 +0000 Gurley says late-stage investors force-feed capital to companies based on power law beliefs in unprecedented w https://minutesof.com/q/38b4e4d8-6263-482d-b43d-4956e85b0217/ https://minutesof.com/q/38b4e4d8-6263-482d-b43d-4956e85b0217/ “It's it's it's just worse as it's ever been, where because you have these monolithic late stage players who believe in power laws, believe in network effects,” — McCombs School of Business Fri, 24 Jan 2025 00:57:51 +0000 unicorns Gurley asks what percentage of 1,400 pre-LLM private unicorns could raise up rounds today. https://minutesof.com/q/724a7042-19ae-4489-95c8-8b64fc6f9da4/ https://minutesof.com/q/724a7042-19ae-4489-95c8-8b64fc6f9da4/ “What percentage of those could raise an up round right now? Yeah. What is the number?” — BG2 Pod Thu, 31 Oct 2024 17:46:51 +0000 unicorns Gurley says complex cap tables with multiple constituencies cause investors to opt out of unicorn financings e https://minutesof.com/q/44254464-6e1a-4628-9973-ec438e34d826/ https://minutesof.com/q/44254464-6e1a-4628-9973-ec438e34d826/ “a lot of people just say they opt out and say no this is too hard, I'm not going to go in there and negotiate with five different constituencies on how to do this.” — All-In Podcast Fri, 11 Aug 2023 06:23:00 +0000 unicorns Gurley argues current risk bubble differs from 1999 because investors now put hundreds of millions into four-y https://minutesof.com/q/37904117-1b3e-46f3-8f0e-d375ba48b973/ https://minutesof.com/q/37904117-1b3e-46f3-8f0e-d375ba48b973/ “But you didn't have a situation where people were putting $102,103 $104,109 $1,001,000,000,000 dollars into a private company who might only be four years old. These companies just haven't had the time to mature.” — SXSW Fri, 20 Mar 2015 17:13:49 +0000 unicorns