In general, it's working out for now ... for now ... because the best start-ups are scaling faster than ever. As long as start-ups scale faster, they still get

In general, it's working out for now ... for now ... because the best start-ups are scaling faster than ever. As long as start-ups scale faster, they still get incredible leverage even as fully-burdened costs grow. In SaaS, the best start-ups are getting from $2m to $10m ARR in 1 year now. That was pretty close to impossible 5 years back. The markets are larger. With more customers, you get more revenue. And you can pay more. For now.