Why Should You Leave Your 🦄 Startup?

Angelina Yang
4 min readNov 8, 2023
  • You recently joined a unicorn startup.
  • You checked news and the their funding status on Crunchbase.
  • You checked reviews on Appstore, Glassdoor, Blind and Layoffs.fyi.
  • You even reached out to a few folks who recently left the company on Linkedin!

Everything seems to be good: culture, growth, runway…

You have done your research! 👍

I’ll give you that!

What now?

Don’t just sit back and relax! Stay observant while you are in the company!

You are in the best position to evaluate the company when you are working there.

Perhaps you learned that the metrics are good, the founders are focused and your coworkers seem very smart.

If that’s the case, then your strategy should be probably stay there for a really long time.

Now let’s get back to the reality…

The topic today is:

Why should you leave your FAILING 🦄 startup?

To start, not all 🦄 succeed. Only 0.006% of startups reach unicorn status, and most of them fail.

Source

There are currently 1,4001 unicorn startups.

Do you think all 1,400 will go public successfully?

YC Group Partners, Michael Seibel and Dalton Caldwell provided an optimistic estimate that roughly one-third of these 1,400 startups could potentially achieve an IPO. Obviously, two thirds of them are not going to work out.

If you are in the failing ones, what does it mean for your stock options?

The founder of your company won’t tell you this:

If you joined the unicorn that is late stage, your strike price of your options is going to be tied to the valuation that the company raised at, so if the company is sold for less or if it’s

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