

Ebb and Flow - skmurphy
http://www.skmurphy.com/blog/2013/01/25/ebb-and-flow/

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skmurphy
Key paragraph:

What if the right model for a successful business is not the crescendo (the
“hockey stick”) but ebb and flow. I think it’s more important how you manage
cutbacks and necessary expense reductions, the organized abandonment of
products and business models that are obsolete, and the intelligent pruning of
initiatives that either have not worked out or are not longer working. The VC
ecosystem profit model is predicated on “the exit” or “the liquidity event.”
The professional investor’s goal in an early stage firm is to make the ongoing
management of the firm someone else’s problem.

