Dial-up got dramatically cheaper too. But I’m not buying dial-up in 2026. I’m paying more for fiber because my expectations for what the internet should do went up with the technology.
My bet is intelligence works the same way: yesterday’s frontier becomes cheap, while we keep
Future generations will hear stories of a brief period when $200/month bought you seemingly unlimited access to the world’s most expensive intelligence, the way we talk about $2 Ubers now.
A $7B healthcare AI company left a certain legacy issue tracker for Linear. They’ve since logged 80,000+ customer requests and built a system to weigh them by frequency and revenue.
Future generations will hear stories of a brief period when $200/month bought you seemingly unlimited access to the world’s most expensive intelligence, the way we talk about $2 Ubers now.
If Miro had raised $50M total, last at a $20B valuation, and sold for $1.79B in equity value, would we tell a different story about the outcome? They're profitable and still have substantial cash ($435M). The capital wasn’t simply lit on fire.
I don’t love overcapitalizing
Darling of 2021, ~20B valuation, 500m raised
They don’t tell you this one but “too much capital” is equally likely, if not more, to kill a company than too little
You get drunk assuming the party never ends and then boom, you get wiped out