https://techcrunch.com/2021/11/23/10b-is-the-new-1b-and-we-need-a-new-framework-for-startup-valuations/

What is a startup? It’s a question so picked over at this point that it feels like the only answer is it depends.

That’s fair. In the past, we might have said that once a private-market company earns a $1 billion valuation, it is no longer a startup. But with venture capitalists and crossover investors turning an ever-increasing number of less mature startups into unicorns, that demarcation line has lost its rigidity.