Your periodic reminder: charge more. I feel pretty ambivalent about valuations, by which I mean that 2019 will clearly be lowest valuation for early software companies compared to year X and all years later in human history, and I don’t know whether X is 2020 or 2025 or 2030.https://twitter.com/jmj/status/1180525455973076992 …
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Replying to @patio11
Why will that be the case? It seems quite plausible to me that a big reason why we have these high valuations has to do with the business cycle.
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Replying to @davidiach
I think people overestimate reversion to the mean in business cycles. This isn’t the same river twice; regardless of capital flows or debt availability or consumer confidence, we will *never again* not have the Internet. It is extremely unlikely it will again take $1M+ to v0.01.
1:29 PM - 5 Oct 2019
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