>The Fatal Pinch does not apply to me Except, sometimes it doesn't? If you look at the notes[0] at the bottom of The Fatal Pinch: >There are a handful of comp

>The Fatal Pinch does not apply to me Except, sometimes it doesn't? If you look at the notes[0] at the bottom of The Fatal Pinch: >There are a handful of companies that can't reasonably expect to make money for the first year or two, because what they're building takes so long. For these companies substitute "progress" for "revenue growth." You're not one of these companies unless your initial investors agreed in advance that you were. And frankly even these companies wish they weren't, because the illiquidity of "progress" puts them at the mercy of investors. What do you do if you're one of those companies? There's plenty of business models that could be attractive acquisition targets (read: billions), but otherwise can't monetize to save their souls. Two pieces of advice often encountered (paraphrasing): "Treat each funding round as if it's your last." "VC money is like rocket fuel. It's intended to be burned at a high rate." I imagine reconciling both is difficult at best. [0] http://paulgraham.com/pinch.html http://paulgraham.com/pinch.html