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When it comes to unicorns, “there is a worry that the tail may wag the horn”

Those were just some of the tough words aimed at Silicon Valley by Securities and Exchange Commission chair Mary Jo White in a speech she gave at Stanford Law School yesterday. She sternly told the crowd that some startups under pressure to surpass a $1 billion valuation are misrepresenting their financials and taking steps to evade federal rules and regulations, reports Vanity Fair.

Saying that unicorns “do not appear to be an endangered species,” she added: “The concern is whether the prestige associated with reaching a sky high valuation fast drives companies to try to appear more valuable than they actually are.”MB