A unicorn refers to a startup company that reaches a $1 billion dollar market value as determined by private or public investment.  This stems from statistical rarity of such successful ventures.  The term was originally coined by Aileen Lee, founder of Cowboy Ventures in 2013.

 A unicorn can also refer to a phenomenon that occurs when those who are responsible for hiring candidates have impossible expectations. This stems from a mismatch between the expectations of the employers and who is available for hire. In other words, they are looking for a mythical candidate (i.e. a unicorn), rather than facing reality.

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