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00:00You are perhaps now best known for coining the term unicorn . 2013 you wrote a blog post where you referred to billion dollar plus companies as unicorns. And it's taken off like a rocket . What's your reaction to just how pervasive the term has become . I don't know. To be honest I hopefully I will become known for being a great investor and a great backer of outstanding entrepreneurs. So that's what I'm actually more focused on . But it's nice that I'm also hopefully the analysis that went along with coming up with the term unicorn because I think building these you know super awesome tech companies that lasts and are built to last is really special and I think understanding kind of what's under the hood in terms of who the founders were how they met what they did beforehand. What was the original genesis of the idea. I like all the things around kind of the making of is actually I think what kind of was the genesis of unicorn idea. It's very special and very rare and I think a lot of you have a lot of entrepreneurs out there seeking that one billion dollar value. But a lot of people wondering how many of those companies actually have the numbers to stand it up. Yeah of 200 plus unicorns out there now. How many of survive. I think most of them will survive obviously in the past X years especially probably that the three or four that I've been doing are new funds cowboy ventures. We've just been seeing the multiples at which people are investing. Valuation multiples at which people are investing have been have been accelerating and I think there is a deceleration of kind of multiples in terms of valuations happening right now and I think that will probably continue for another year or two but that doesn't mean that the technology or the innovation or the markets that these couples are going after are getting smaller . I think it's a this is what's going on right now is a reflection on valuations it's not a reflection on the long term value of technology or the long term value of these companies. So because I think that if we look at obviously NBN be an uber being two of the most valued but there are many others Twilio one of which going public what they do is really important and really valuable and customers love the products. So do you think we're beyond peak unicorn. Are we are we at a point where valuations are coming back last year. I think was kind of a local maxima so we may see a decline in the next year or two but I think if we look 10 years from now there will be more .

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Cowboy Ventures' Aileen Lee on Survival of Tech Unicorns

Aileen Lee, founder at Cowboy Ventures, discusses the genesis of tech "unicorns", how many she expects to survive, and the prospect of greater numbers in the future. She speaks with Bloomberg's Emily Chang from the Global Entrepreneurship Summit in Stanford, California on "Bloomberg Markets." (Source: Bloomberg)

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