Money20/20 – Amsterdam June 2023 – ‘Camels, Unicorns & Donut Wheels’

I joined an enlightening discussion listening to Kimberly Ofori and Ricky Knox challenge the traditional VC investment model and the notion of ‘unicorns’. The conversation emphasized the importance of building sustainable businesses that thrive in the long term. Surprisingly, did you know Unicorns start to underperform just 5 years after their IPO?

Kimberly pointed out that the myth of the unicorn 🦄 as a universal symbol of success may not hold true across different cultures and geographies. Instead, she introduced the camel 🐫 as a more fitting analogy, especially for regions like Africa facing unique infrastructure challenges.

Unlike unicorns, camels are real, adaptable to tough conditions, efficient with resources, and excel in both marathons and sprints – all characteristics essential for sustained business success.

Should we focus on incubating and nurturing camels 🐪 over unicorns 🦄 in the UK and Europe? I personally advocate for the 🐫 as a symbol of sustainable and profitable growth.

Thank you, Kimberly, for the insightful discussion! This was truly a highlight of my day, alongside discovering a wheel of donuts 😃😃😃