My assumption when receiving this unicorn cake order was that we were celebrating a young child’s birthday. So I suggested throwing a rainbow into the mix (although why are unicorns and rainbows inextricably linked? It’s a mystery). Wait, not anymore: “Unicorns are nature’s most mystical creatures. When you find your unicorn it will lead you to the end of the rainbow and to your “pot of gold”).

Right. Well as it happens, the birthday boy was actually a grown man, a CEO of a local startup. And the unicorn we were talking about had everything to do with a big pot of gold.  Turns out that a unicorn, in modern parlance, is a private startup company that has a value of over $1 billion. Venture capitalist Aileen Lee coined the term  in 2013. She chose the mythical animal to represent the statistical rarity of such successful ventures.

Well that’s whimsical and fun. But wouldn’t it have been more accurate to call these companies Sumatran Rhinos, Yangtze Finless Porpoises, or African Wild Dogs? After all, these species – and quite a few others –  all appear on the critically endangered list of the WWF (World Wildlife Fund). The unicorn is nowhere on that list.

Truth be told, despite the inaccurate description, I’m quite satisfied with the choice of unicorn as the billionaire’s mascot. The Sumatran Rhino is decidedly unattractive. And don’t even get me started on the African Wild Dog.

Interestingly, among cake decorators, there is surprising unanimity regarding unicorn cake design. Do a quick Google Image search and over 95% of the results show cakes similar to this one. The horn can be gold or made from an upside down ice cream cone. The manes appear in a variety of colours. Sometimes there’s a rainbow. But it’s fascinating that everyone seems to know exactly what a creature that has never existed looks like.