Multiples don't price where you are. They price how fast you're getting there. Double your revenue in a month and your valuation more than doubles; the speed re-rates the multiple itself. But if you used to double in a month and now it takes six, doubling again might only get you 1.5x. Revenue grew, but the multiple compressed. People look at the multiple and miss the velocity underneath it.

AWS is static infrastructure. You deploy a product. It stays what it is. You don't want the Uber app randomly changing on you. Something like @daytonaio is dynamic infra. The agent is doing things, figuring things out, breaking things, changing state constantly. The machine itself can grow CPU and RAM on the fly and shrink back down. There are two axes of dynamic: the workload and the machine running it. Completely different primitive. It took hearing @friedberg talk about "static vs dynamic" on @theallinpod for me to realize I'd never framed it that way.

We almost opened a @daytonaio cafe. Some time back, we were seriously looking at retail real estate in San Francisco. Ultimately decided against it because running a cafe is like running another business. Hiring, inventory, ops - all the same startup problems in a different package. We sponsored the Corgi Cafe instead. They are crushing it at both that and their actual business.