I think the key difference is whether or not it's a big, winner take all market. If it is, then you pretty much have to get all the funding you possibly can an

I think the key difference is whether or not it's a big, winner take all market. If it is, then you pretty much have to get all the funding you possibly can and grow as fast as you can as Amazon and Ebay did. Jeff Bezos has written about how he was aware of the damage such rapid growth inflicted on company culture and how difficult it made managing the company. But, in that sort of market, it was the only way to go. For a small niche or for a market such as fast food that isn't winner take all, the lifestyle business is possible and probably preferable. VWO is a medium sized "winner take most" market, so it's reasonable that they're following a hybrid path.