Startup = Growth
By Paul Graham
Condensed key points; read the original. Source rights retained by the author/speaker.
Read the original essay →
Slide text
Startup = Growth
If you start from the mistaken assumption that Instagram was worthless
Our ancestors must rarely have encountered cases of exponential growth, because our intuitions are no guide here.
If they stepped back and looked at the whole picture they might be less indignant.
The test of any investment is the ratio of return to risk.
The other way to get returns from an investment is in the form of dividends.
The combination of founders, investors, and acquirers forms a natural ecosystem.
If you start from the mistaken assumption that Instagram was worthless, you have to invent a secret boss to force Mark Zuckerberg to buy it.
Found this useful?
Follow for more, and save this post.