I … did not realise this. But it’s almost stupidly obvious now that Tren’s laid it out like this: of course LTV is a model.
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4/ LTV is a model. All models are wrong, but some are useful. People can use the model to justify CAC in ways that will kill the business by using broken assumptions. All assumptions should have a margin of safety. Whenever you see a spreadsheet, always focus on the assumptions.
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