Re:Shopify to lay off 10% of workers in broad shake-up
by spaceman_2020 on Tuesday July 26, 2022 @01:45PM
(#32241381)
Ironically, crypto VCs are sitting on a lot of dry powder and the narrative is much stronger (WEB3! METAVERSE!) since it is completely detached from reality.
In situations like these where the wealthy still have a ton of money, it is far better to be in a business that a) the wealthy don't understand, and b) is so outlandish that you can't assign a hard value to it.
If you make $1 in profit, then investors can assign it a hard value (10-15x ARR). If you make $0 in profit, then investors can spin up narratives about your "potential".
In situations like these where the wealthy still have a ton of money, it is far better to be in a business that a) the wealthy don't understand, and b) is so outlandish that you can't assign a hard value to it.
If you make $1 in profit, then investors can assign it a hard value (10-15x ARR). If you make $0 in profit, then investors can spin up narratives about your "potential".