Masters of Scale Rapid Response: Don’t be a unicorn, be a dragon, w/Techstars CEO Maëlle Gavet
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Nov 17, 2022 Maëlle Gavet, CEO of Techstars and a seasoned expert in early-stage investment, discusses the shift from chasing unicorn valuations to fostering resilient businesses, or 'dragons.' She emphasizes the importance of sustainable growth and mentorship in the entrepreneurial journey. Gavet shares insights on navigating pre-seed investments, balancing cost management with growth, and the unique challenges entrepreneurs face in times of crisis. Her perspective combines practical advice with a call for inclusivity in the startup landscape.
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Dragons over Unicorns
- Maëlle Gavet dislikes the obsession with unicorn status, finding it detrimental to decision-making.
- She believes businesses should strive to be resilient "dragons" instead.
Origin of the Dragon Analogy
- Maëlle Gavet's conversation with Brad Feld about Techstars' unicorn investments sparked her "dragon" analogy.
- This discussion highlighted the artificiality of paper valuations and their negative impact on startups.
Characteristics of a Dragon
- Focus on resilience, good unit economics, and customer loyalty to become a "dragon."
- Prioritize solving customer needs and navigating challenges over achieving a high valuation.