The United States economy has at least 1,205 'unicorns' - privately held startups valued at over $1billion - but that number may be in jeopardy as the possibility of a major recession looms.
Unicorns were previously considered rare entities, with as few as 266 such businesses in 2018.
Their numbers spiked when the competition was weeded out of crowded fields as businesses scaled back or went bust during the COVID pandemic, and the best ideas and businesses rose to the top of the funding pile.
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