> Many people say growth is the only important metric, and that’s actually wrong. The reason is simple—only 5% or fewer of startups are growing so fast that eff

> Many people say growth is the only important metric, and that’s actually wrong. The reason is simple—only 5% or fewer of startups are growing so fast that efficiency doesn’t really matter. I'm confused. Isn't the whole point of VC to try and find that 5%? And to be comfortable writing off the remaining 95% as acceptable loss? Isn't that why VCs encourage startups to irresponsibly increase their burn? I mean, it makes sense if the author wants to offer startups some weight in the battle against that pressure - after all, the VC has 30 other investments and the founders have all their eggs in one basket. But that's not the perspective of this article - it's very much written from an investment perspective. If I talk to my investors about capital efficiency, they tell me they think we should pour more money into everything to try and grow faster, runway be damned.