Here’s how people think great things happen in Silicon Valley: A bright-eyed startup founder sketches a groundbreaking idea on a napkin. The napkin is picked up by a savvy venture capitalist. The VC glances at the sketch, gets excited, and wires millions of dollars to the young entrepreneur. And a unicorn—that is, a company that will reach the $1 billion level in value—is born.
This narrative of high stakes, fast decisions, and a risky gamble is alluringly cinematic. It’s also a myth. And for anyone who wants to be a successful founder or investor, it’s a dangerous one.
