fair enough, but sometimes no matter how much you spend you won't be able to double revenues from $50MM to $100MM. Will the market allow you to grow that fast?

fair enough, but sometimes no matter how much you spend you won't be able to double revenues from $50MM to $100MM. Will the market allow you to grow that fast? So yes, the math is funky. As a counter example, many companies are using excess cash to buy back stock and not grow the biz. As another example, what did Github did with their $100MM? I'd argue that the Github product and client base looks substantially similar to what it did before a16z gave them that chunk of change.