I feel like a missing part of this is the end customer. With more investment it seems to me it would be easy to create more seed investments but if those can't find product market fit then more seed investments will not lead to more Series A,B,C etc. This may be reflected in the "Too Real" chart.
Attractive—and tough—article, so, according to your analysis, we should stop investing in startups at current market conditions or at least redefine drastically the way to compute the portfolio value of each company.
I feel like a missing part of this is the end customer. With more investment it seems to me it would be easy to create more seed investments but if those can't find product market fit then more seed investments will not lead to more Series A,B,C etc. This may be reflected in the "Too Real" chart.
Reposting this in the eu.vc newsletter, Nnamdi. What an amazing read 🙏 Thx!
Attractive—and tough—article, so, according to your analysis, we should stop investing in startups at current market conditions or at least redefine drastically the way to compute the portfolio value of each company.