Sublime

My dataset includes any startup that at one point passed the billion-dollar valuation, whether by going public (via an initial public offering, or IPO), by getting acquired, or in private funding rounds—so my study is defined more broadly than just private investor valuations, which is what is usually referred to as a unicorn. Some might argue that

“We had a blanket rule against investing in clean-tech companies for about a decade,” said Peter Thiel, the PayPal cofounder and venture capitalist at Founders Fund. “On the macro level, we were right because clean tech as a sector was quite bad. But on the micro level, it looks like Elon has the two most successful clean-tech companies in the U.S.

David Swensen’s Unconventional Success or Joel Greenblatt’s You Can Be a Stock Market Genius.

In classic fashion, frantic efforts to correct the underperformance only compounded Windsor's plight. Windsor had succumbed to infatuation with small supposed growth companies without sufficient attention to the durability of growth.

(It is interesting to note that any profitable market strategy, no matter how obviously it is driven by greed, always is deemed good for society by those who reap the profits.)