Question: How can you tell that a unicorn startup is in trouble?
Answer: When it starts conjuring up make-believe metrics to tout success/traction.
Take Hike, for example.
In August 2016, the instant messaging startup founded by Kavin Bharti Mittal raised $175 million. The funding round was led by Chinese behemoth Tencent and Taiwanese manufacturing company Foxconn at a valuation of $1.4 billion. At that time, Hike was only four years old. It was the fastest Indian startup to enter the exalted unicorn club (startups with a valuation of $1 billion or more).