Register and share your invite link to earn from video plays and referrals.

Jonah
@jonah_b
investor @bcap | alum @penn
Joined November 2021
628 Following    4.8K Followers
One of the challenges of the venture market today is that, for almost every net new opportunity, there are 30 competitors chasing it. Beyond taking on product-market fit and execution risk, these companies face immense competitive pressure. And given how quickly startups are raising capital, many of those competitors are also well-capitalized. A zero-sum thinker might argue that the market is doing itself a disservice by funding a bunch of companies that will inevitably compete head-to-head, potentially eroding each other's margins and returns. Alternatively, you could take a more abundance-oriented view. We're witnessing a fundamental shift in the world order. The TAM for these emerging businesses is enormous, to say the least, and there's plenty of room for AI-native companies to capture meaningful value. One of the hard things, though, is that all the money in the system distorts things. A lot of traction might be coming from fundamentally unsustainable sources of money, meaning that what might look like PMF or strong margins is more the result of a short-term dislocation than a market steady state.
Show more