While we recommend reading the entire article, Lee’s key findings as they pertain to ExOs are as follows: It takes more than seven years, on average, before a “liquidity event.” Inexperienced twenty-something founders are outliers. Companies with well-educated thirty-something co-founders who have history together tend to be most successful. The idea of a “big pivot” to a different product after startup is an outlier. Most Unicorns stick to their original vision (i.e., their founding MTP).
