Silicon Valley Must Corral Its `Unicorns,' SEC's White Says
- Regulator advises tech startups to match growth with caution
- SEC chief warns against pressures that can inflate valuations
SEC Chairman Mary Jo White.
Photographer: Pete Marovich/BloombergThis article is for subscribers only.
The head of the U.S. Securities and Exchange Commission ventured deep into Silicon Valley Thursday to warn the tech community and its investors to be wary of unicorns.
Mary Jo White, speaking at Stanford Law School in California, was referring not to the mythical horse-like creature but to non-public startups valued at more than $1 billion. Such firms may warrant special scrutiny into whether their internal controls and investor protections are keeping pace with their growth, she said.