Covid-19 and the global recession it has caused have us all girding for a long period of extremely challenging conditions in the global market. This situation is uncharted waters for the traditional Silicon Valley startup model, which is geared toward fast growth and creating “unicorns.” Instead of the unicorn, the camel is the more fitting mascot. Camels can survive for long periods in extremely adverse conditions. Startup camel enterprises offer businesses in all industries and sectors valuable lessons on how to survive and grow in adverse conditions. They do this with three strategies in mind: they execute balanced growth; they take a long-term outlook; and they weave diversification into the business model.
The world has changed. In the wake of Covid-19, and the global recession it has caused, business leaders, innovators, entrepreneurs, and investors are all girding for a long period of extremely challenging conditions in the global market. How can startups and innovators of all stripes survive in such conditions? Many are not prepared.
The current situation is particularly difficult for Silicon Valley, where the predominant model is to raise unicorns – the colloquial reference to startups worth over a billion dollars. Traditionally, this is done through rapid growth. The problem now, however, is that this growth-at-all-costs methodology, which the Valley’s top