This model feels very mechanical in the rigid $50 million cutoff between "low exit" and "will make you money." Truth is, niche companies with small burn rates

This model feels very mechanical in the rigid $50 million cutoff between "low exit" and "will make you money." Truth is, niche companies with small burn rates can yield nice payoffs to investors even if the exit is $20 million. And cash-hungry dream-chasers can yield almost nothing to insiders even with a $80m to $100m valuation. I'd like this model more if it had a second slider that let you move between "thrifty bootstrap" and "costly moonshot." Over the years, I've seen friends get surprised on both sides of the supposed $50m divider.