> This is important for founders to understand IMO because so many of the recent Series A and Series B fund-raises have taken low $M ARR companies and given the

> This is important for founders to understand IMO because so many of the recent Series A and Series B fund-raises have taken low $M ARR companies and given them valuations >$100M. This is also puzzling to me. Many founders are just not thinking clearly about exits. Acquirers want revenue and accretive value at a reasonable valuation.