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Their wordswe all began praying to the God of Valuation. It wasn’t always like this and frankly it took a lot of joy out of the industry for me personally.
Their wordsIt was nobody’s fault. It’s just a market. I find it funny when people try to blame VCs or LPs or CEOs as though anybody could choose to control a market.
Their wordsBut the majority of the industry has always been made by amazing entrepreneurs who build out of the extreme spotlight of the industry and build 12-year “overnight successes” where they wake up and have $100m+ in revenue, positive EBITDA and a chance to control their own destiny.
Their wordsSo we’re back to building real businesses. And that personally brings me way more joy than the obsession with valuations. I feel confident if we focus on the former the latter will take care of itself.
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