For me it looks like we arrived to non-contradictory conclusion: There are two winning strategies. The first approach is to search for IPO-capable startups, ac

For me it looks like we arrived to non-contradictory conclusion: There are two winning strategies. The first approach is to search for IPO-capable startups, accept the large amount of misses and not care about valuations. The second strategy is to aim at multiple acquisition exists, be more selective, and pay attention to valuations. Both strategies can work, if executed well. The second strategy is trending now, but it does not overwrite the first one.