Beginning with 2015, foreign technology media started questioning the blind worship of unicorns, but in China, the idea of “unicorn” still prevails. Add “unicorn” to anything and suddenly it’s the next big thing.

Last month, I held a roundtable discussion in Hong Kong with several unicorns from Hong Kong. I asked them what they think of the label. They were very modest—they did not feel the label means they were already successful. But for hundreds of Hong Kong entrepreneurs, becoming a unicorn is still their goal. It is a great achievement but it is also very hard to become a member of the unicorn club.

A unicorn, a company valued at $1 billion, does not fully reflect the long-term value of any company. Becoming a unicorn is just a new starting point. Its future development is worth deeper consideration, and there are innovations coming from “non-unicorn” deserving our attention and praise.

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Gang Lu

Dr. Gang Lu - Founder of TechNode. He's a Blogger, a Geek, a PhD and a Speaker, with passion in Tech, Internet and R'N'R.