STARTUPS (STILL) AREN'T BUSINESSES (YET?)

Summary from the TLDR Product newsletter

Silicon Valley operates under two unspoken laws: overwhelming compute beats clever logic, and startups are designed not to make consistent profits, but to generate massive one-time paydays through exits. Despite recent trends of lean, profitable AI startups, the core venture model remains focused on perception, valuation, and liquidity events - not on building enduring, self-sustaining businesses.