Revenue and profit
The recent announcement that Zillow is going to pay $108 Million for dotloop got me riled up. Then Dan forwarded me this article from Jason Fried, co-founder of Basecamp. So good, and keeps everything in perspective.
“Startups these days are bantered about as if they were in a fantasy football bracket. Did you hear Lyft raised another $150 million at a $2.5 billion valuation? But Uber got tossed another $2.8 billion at a $41.2 billion valuation! Then there are the companies barely off the ground getting VC backing with 25x valuations, despite having no product or business model.
Entrepreneurs by nature are competitive. But fundraising has become the sport in place of the nuts and bolts of building a sustainable business.