8 ms·

Feels like they were first in the space but then somehow Ramp ran away from dev with a higher dev pace. Fascinating to see.

ipnon 8mo ago
Personally I'm okay with being outcompeted if their's a billion dollar payout at the end.
- throwup238 8mo ago
  Everything that's wrong with venture capitalism condensed into a single fifteen word sentence. Bravo. If you can't provide a billion dollars worth of value, extract a billion dollars worth of grift! I hear A16Z is hiring.
  - skrebbel 8mo ago
    How is being outcompeted “grift”? I feel like I’m missing some context here.
    - DSingularity 8mo ago
      Why do you start a startup? Is it to build an idea you believe in and believe it is potentially lucrative or is it so you can go through the motions, say the trendy things, and get outcompeted because in the end you are primarily focused on getting acquired with a 1B exit?
      - qeternity 8mo ago
        Spoken like someone who has never started a business. Brex raised much less than $5b and Capital One apparently thinks it is worth more than that (otherwise they wouldn’t buy it). This is called value creation.
        jjfoooo4 8mo ago
        I think the investors who put $300m in at a $12b valuation would disagree
        qeternity 8mo ago
        I don’t think you understand how liquidation preferences work. They will get $300m back. Opportunity cost sure. But zero nominal loss.
        pinnochio 8mo ago
        Definitely. No company has ever overpaid for another company. No fraud or FOMO-driven overvaluation has ever occurred in an acquisition. And all acquisitions have always turned out for the best. It's all 100% pure value creation.
        solarkraft 8mo ago
        Your statement is true on average because the world’s economy is continuing to function.
        pinnochio 8mo ago
        Oh wow, I don't even know where to begin with that. Like, the world economy can't continue to function even if acquisitions were only 80% value creation on average? Or does the entire world economy depend on companies acquiring other companies with 100% value creation on average, such that it continuing to function logically implies 100% average value creation?
        re-thc 8mo ago
        > can't continue to function even if acquisitions were only 80% value creation on average The number is much much lower than that. Most acquisitions fail or don't have much impact.
        shafyy 8mo ago

ipnon 8mo ago

Personally I'm okay with being outcompeted if their's a billion dollar payout at the end.

throwup238 8mo ago
Everything that's wrong with venture capitalism condensed into a single fifteen word sentence. Bravo. If you can't provide a billion dollars worth of value, extract a billion dollars worth of grift! I hear A16Z is hiring.
- skrebbel 8mo ago
  How is being outcompeted “grift”? I feel like I’m missing some context here.
  - DSingularity 8mo ago
    Why do you start a startup? Is it to build an idea you believe in and believe it is potentially lucrative or is it so you can go through the motions, say the trendy things, and get outcompeted because in the end you are primarily focused on getting acquired with a 1B exit?
    - qeternity 8mo ago
      Spoken like someone who has never started a business. Brex raised much less than $5b and Capital One apparently thinks it is worth more than that (otherwise they wouldn’t buy it). This is called value creation.
      - jjfoooo4 8mo ago
        I think the investors who put $300m in at a $12b valuation would disagree
        qeternity 8mo ago
        I don’t think you understand how liquidation preferences work. They will get $300m back. Opportunity cost sure. But zero nominal loss.
      - pinnochio 8mo ago
        Definitely. No company has ever overpaid for another company. No fraud or FOMO-driven overvaluation has ever occurred in an acquisition. And all acquisitions have always turned out for the best. It's all 100% pure value creation.
        solarkraft 8mo ago
        Your statement is true on average because the world’s economy is continuing to function.
        pinnochio 8mo ago
        Oh wow, I don't even know where to begin with that. Like, the world economy can't continue to function even if acquisitions were only 80% value creation on average? Or does the entire world economy depend on companies acquiring other companies with 100% value creation on average, such that it continuing to function logically implies 100% average value creation?
        re-thc 8mo ago
        > can't continue to function even if acquisitions were only 80% value creation on average The number is much much lower than that. Most acquisitions fail or don't have much impact.
        shafyy 8mo ago