Utah leads the United States in the ratio of unicorns to startups, with one in every 39 startups achieving a valuation of $1 billion or more. Despite this, the overall number of startups in the state needs to increase to sustain growth. Nationally, there are over 1,000 technology unicorns, but the startup ecosystem remains challenging, with a failure rate of about 90% for startups in general. Venture capital firms, such as Accel Partners, emphasize the high risks involved in backing these companies. Rich Wong, a partner at Accel, stated that approximately 20% of unicorns—equating to more than 200 billion-dollar startups—are expected to fail completely. Common reasons for startup failure include lack of market demand, among other factors. These insights were highlighted during Bloomberg’s Tech conference and reflect the precarious nature of sustaining high valuations in the tech startup sector.