Much is written on the Miro + Airtable sales to Bending Spoons as a massive drop in valuation from 2021-era valuations. But they're not really about that They are both ... The End of a Journey Collectively, the founders and the investors decided the journey after many years had come to end. No one was forced to end the journey. Both were profitable with hundreds of millions in the bank and hundreds of millions in revenue. But deep down, the journey had come to an end. Some founders will keep pushing on. Others will say, rationally, after 5+ years of tough times since 2021, and so much change in the Age of AI, that it's time to end this journey. It's never easy. Maybe it is for some. I do know some that easily walked away from start-ups at $100m+ ARR. But I don't know too many. But the time does come for many when you know, 100% or at least close to it, that The Journey Has Come to An End. And this is why I have the most insane respect of all for leaders like Benioff et al. 20-25+ years on The Journey. It's not easy man.