Founder Collective scored the 500 biggest exits since 2000 - the median is $2.7B

Most unicorn lists are prediction markets: they price what might happen. This one is a scorecard of what did, drawn from ~100,000 venture-backed startups founded since 2000.

- SpaceX tops the list at $2T; the 500th spot is Hippo at $742M
- three companies are worth over $1T, about a dozen over $100B, fewer than 100 over $10B
- roughly 50 of the 500, a full 10%, never crossed a billion at all
- $10T of value realized across the ecosystem in a quarter-century

The uncomfortable part is the fund math: there are corners of venture where owning 20% of a $2.7B exit still does not return the fund.

https://foundercollective.com/blog/unicorn-lists-are-prediction-markets-this-list-is-a-scorecard/

📎 Read also:
→ 92% of US small-business exits are shutdowns
→ $3T dry powder stuck, DPI just 9%
→ $300B Q1 VC, four companies took 65%