Once again, you hit the nail on the head. For someone who's been around this space a bit longer than you, it's yet another reminder that those who fail to learn from history are doomed to repeat it. In the late 90s the Valley lured hordes of people in search of get-rich-quick opportunities (yours truly included), valuations were insanely out of sync with any realizable value, VCs shortcut the due diligence process to avoid missing out on the next big thing ...and everyone thought the party would continue for ever. The silver lining, if there is one, is that the market forces rationality on irrational investors and reverts to real value-seeking. We see proof of this in the fewer companies that emerge from bear markets and go on to greater heights.
Those of us who grew up in Silicon Valley have graduated from this awhile ago. From experience, takes about 10 years for new folks to come to the same conclusions as you have, Benn https://segah.me/post/on-growing-up-in-silicon-valley/
So, why not hack the system? You’re a data startup. Why don’t we find a better metric to measure our success by, and encourage people to start using that? Eric Ries is doing it for public companies with LTSE. It is harder and messier to do that for startups, but that doesn’t mean we can’t try…
Once again, you hit the nail on the head. For someone who's been around this space a bit longer than you, it's yet another reminder that those who fail to learn from history are doomed to repeat it. In the late 90s the Valley lured hordes of people in search of get-rich-quick opportunities (yours truly included), valuations were insanely out of sync with any realizable value, VCs shortcut the due diligence process to avoid missing out on the next big thing ...and everyone thought the party would continue for ever. The silver lining, if there is one, is that the market forces rationality on irrational investors and reverts to real value-seeking. We see proof of this in the fewer companies that emerge from bear markets and go on to greater heights.
A timely reminder to focus on creating value for your user, and have little fun while you’re at it.
Timely insights and timeless advice.
Well spoken.
Those of us who grew up in Silicon Valley have graduated from this awhile ago. From experience, takes about 10 years for new folks to come to the same conclusions as you have, Benn https://segah.me/post/on-growing-up-in-silicon-valley/
So, why not hack the system? You’re a data startup. Why don’t we find a better metric to measure our success by, and encourage people to start using that? Eric Ries is doing it for public companies with LTSE. It is harder and messier to do that for startups, but that doesn’t mean we can’t try…