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Not a single thing about modelling? Do VCs even know basic accounting? Does anybody care about balance sheets, income statements and reports? "Accounting is the
by H8crilA 7y ago
Not a single thing about modelling? Do VCs even know basic accounting? Does anybody care about balance sheets, income statements and reports? "Accounting is the language of business", if you believe that old guy from Nebraska.
- averros 7y agoModelling requires quantitative data to be useful. Data must be is statistically significant, too. Startups in early stages by their very nature have none of that. It follows that any kind of a financial model is just an exercise in guesstimating and wishful thinking.