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Valuations were super inflated. belt tightening is leading to much saner valuations. Funding is so fucking tight right now - i know a saas company with 7m arr and like 85% margins struggling to raise to expand, which seems frankly insane
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i get that we're supposed to be in a recession but not even a 5x revenue multiple? on god? hope it's more of a reflection of apple's entry than of valuations generally
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