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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Suppose an investor wants to invest in a company, giving them money now in exchange for earning hopefully more money later contingent on them growing successfully. They and the company have to agree on a) how much money and b) how much of the company they are buying.
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(There are a lot of other factors, but for comprehensibility the best investors and the best companies converge on an equilibrium where many of those factors are much less salient.)
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