What you need to be aware and prepare before any journey?
In my recent reading, I came across an article by Ilya Strebulaev titled "Unicorns and Marriages: the 93% Correlation in Exit Strategies," and it caught my attention for its intriguing comparison. Strebulaev highlights a striking 93% correlation between the timelines for unicorn exits and the longevity of marriages in the U.S. Of course, there’s no direct causal link here—something Alex Edmans also warns about in his book "May Contain Lies." It’s easy to misinterpret data, and we need to remember that correlation doesn’t mean causation.
The takeaway, however, is relevant for both startup founders and investors. It will mostly take a very long time for a startup to mature—on average, about 9 years for a unicorn to exit, and often even longer. Strebulaev humorously suggests that divorcing a spouse might be easier than parting ways with an investor, which is a reminder to be incredibly deliberate in choosing both investors and co-founders. In both relationships, you're in it for the long haul, and it’s wise to choose partners who align with your values and vision.
- Make sure you build something you are passionate with;
- Make you see your project or business as a marriage for a long term relationship;
- Since the journey is long, enjoy it every day.
