3 ms·
> How can investors believe a company that went from $20M to $100M ARR in 8 months could eventually get to $2.3B in revenue? They probably didn't! They just had
by Michelangelo11 3y ago
> How can investors believe a company that went from $20M to $100M ARR in 8 months could eventually get to $2.3B in revenue? They probably didn't! They just had to believe that someone ELSE could believe that something like that was possible. This is literally an academic representation of "passing the bag."
Right, and not just that -- by buying those shares at that price, they played a big part in fooling others into thinking it was possible.
Anyway, great article. I think it describes exactly how the economy functioned until very recently.