Copper’s unicorns – by Frik Els ( – July 1, 2024)

Tech venture capitalists invest in startups and get to call them unicorns. Startups like Juicero, famous for $700 a pop “smart” chopped fruit squeezers and being one of Silicon Valley’s dumbest moments, Wag! (oh? you have a dog walking app that sends updates on the frequency and consistency of pet number 2s? – here’s $300 million) and In-Real-Life or IRL, a chat app made for bot to bot communication.

The official definition of a unicorn is a startup with a $1 billion valuation while still a private company. There are more than 1,500 unicorns globally and a variety of investment products that track them. Your humble correspondent felt that the mining industry deserves a similar category of company.

Mining has been starved of cash for years and telling unicorn chasers you are “literally sitting on a gold mine” appears to be a less compelling story to the minds of smart money than saying “we’re going to create an exchange where the shitcoin company A is mining can be swopped for the shitcoin company B to Z is mining” – and call it effective altruism.

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