Towards the end of bull markets, "hot money" chases start-ups that don't make any money but hold some promise at some point in the future. They throw tons of money at them. In this case, they're so big, they're called "unicorns". Those are start-ups that are given a valuation of $1 billion or more. Problem is...most of these are given multi-billion dollar valuations and are losing $1-3 billion per year. It's our modern-day equivalent of the dot-com bubble/burst era. There will be a few survivors (like before)...but even for those few survivors, it likely has a rough road ahead for several years (much like the survivors of the dot-com and tech bust. I'd stay away from these "unicorns".
Related trivia (sort of)- I heard that the Bible mentions unicorns. 2,000 years ago, it was a reference to a rhinoceros. R in Honolulu