In the startup world, “unicorn” has become a buzzword. A symbol of rare companies that achieve billion-dollar valuations. But as Mighty often sees, a higher valuation doesn’t always translate into the best outcome for founders and their early teams.

In this video, Mighty’s Luka Flannigan explains why chasing unicorn status can sometimes be the wrong goal.

For many, the better path isn’t chasing unicorn glory but building strong, sustainable companies that attract strategic acquirers or private equity buyers. Mighty has worked with numerous businesses that exited for $50–100 million and still delivered life-changing returns because founders retained meaningful equity stakes.

By contrast, the unicorn chase often requires founders to raise round after round of dilutive equity capital, ceding ownership and making sacrifices that may not always align with their long-term goals. While unicorns make headlines, they remain rare, and for many, the cost can outweigh the benefits.

As you’ll hear in this video, the smarter play for many founders is to build capital-efficient companies, stay focused on customers and fundamentals, and retain ownership. A well-run business with strong market fit and a clear growth path can provide both financial security and strategic freedom.

The key lesson is simple: success isn’t defined by valuation, but by creating meaningful outcomes for yourself, your team, and your customers.

Full video transcript linked here.