Differentiating unicorns from asses

I WILL remember 2019 as the year when many unicorns were exposed as donkeys in disguise.

Invoking the rarity and mystique of the mythical creature, a "unicorn" is the term the financial market coined for companies worth US$1 billion or more.

The year opened with high hopes for such companies that sought an initial public offering (IPO) in the following months. And while some have done well - video-conferencing company Zoom has almost doubled its IPO price while plant-based food producer Beyond Meat is trading at more than four times its value at listing - the market has not been kind to the most high-profile unicorns.