As a company, raising venture capital is a red queen race.
- As a company, raising venture capital is a red queen race.
- It locks you on a hyper-growth-or-bust trajectory.
- Even if you don't want to get on that trajectory, if your competitor does it, they will dominate you in the market.
- That means that even if everyone would prefer not to, everyone must.
- A prisoner's dilemma.
- Anywhere where there's no moat (bits, not atoms) and some kind of compounding effects, you have to play.