The Mixed Blessings of a Fast Growth Company

In the old days to build a company, you needed a lot of capital and steel building staffing. Today companies today are so much, require so much less capital,. They deserve a higher multiple because the cost structure is so cheap. It's a mixed blessing, right? Because we can grow really fast, you can also shrink really fast. But it also means you don't get to enjoy the fat for very long. I describe tech companies as aging and dog years.