Thoughtful post Stefano, thanks for sharing this. I’m seeing more and more revenue-based debt/loan financing options show up on the market in addition to what Indie and Lighter are doing and I think its net-postive in the macro sense but some of these models force the companies to over-optimize for the short term.

Investment criteria often come back to fundamentals in a down market, so an early focus revenue and customer stability means the company has to learn how to sell and satisfy customers. Not a bad thing vs just knowing how to raise or juice the #s!

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Co-Founder and MD @ Massive.vc, Partner @ The Fund Rockies. Prev: Techstars VC, Co-Founder @ Filtrbox (sold to Jive) Co-Founder @ JustOn.com (sold to Novell).

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