Burn Rate Business Model Reputation Revenue 
Steve Blank
APRIL 26, 2022
At the turn of the century after the dotcom crash, startup valuations plummeted, burn rates were unsustainable, and startups were quickly running out of cash. Most existing investors (those still in business) hoarded their money and stopped doing follow-on rounds until the rubble had cleared. Why do VCs Do This?
Steve Blank
AUGUST 27, 2012
Tossing their agile development process and at times their entire business model in the air, the company would go into fire-drill mode and engineering would start working on whatever his latest insight was. The company already was gaining a reputation as one without a coherent strategy. “We got to pivot now.”
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