TLDR FoundersApril 9, 2025

TLDR FOUNDERS 2025-04-09

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01HEADLINES & TRENDS

YES, ARR IS DEAD

ARR is dying - not because subscription software is over, but because what counts as "ARR" has become a joke. Companies are shoving usage-based pricing, experimental AI spending with terrible retention, and traditional contracts all into one metric, then making critical decisions based on numbers that no longer mean what they used to. If you're blending revenue with 85% margins and 5% churn alongside stuff with 50% margins and 40% churn, you're fooling yourself. Break apart your revenue streams, measure each one properly, and in this uncertain landscape, focus on CAC payback - how quickly you get your money back matters more than ever when you can't predict how long customers will stick around.

onlycfo.io5 min read

DEAD CAT BOUNCE

Despite escalating trade tensions with China threatening "to fight to the end" over new tariffs, markets rebounded strongly today - but is this genuine recovery or just a dead cat bounce? The tariff impacts are playing out in stark contrast across sectors: hardware companies like Framework are pausing US sales after being forced to sell laptops at a loss, while software firms face more indirect challenges through rising data center costs and customers becoming more hesitant with their budgets.

cautiousoptimism.news3 min read

BROWSERBASE, CLAY, CURSOR, AND DATABRICKS TOP ENTERPRISE TECH 30 VC SURVEY

Wing's Enterprise Tech 30 survey reveals VCs are highly interested in AI startups, with Browserbase leading the early stage list. The list highlights promising startups across stages, emphasizing AI infrastructure, coding tools, and generative AI applications. Notable mid-stage companies include Clay, Decagon, and Granola, while Cursor tops the late stage list.

newcomer.co3 min read

02STRATEGIES & TACTICS

A GUIDE TO DISRUPTING INCUMBENTS

Smart startups don't attack incumbents head-on - they commoditize their complements through three powerful strategies: nuking pricing power, reducing switching costs, or eating the complement entirely. The approach works especially well in today's Vertical AI landscape, where startups can use LLMs to weaken incumbent lock-in - but beware the pitfalls: don't commoditize complements critical to your own product's stickiness, and ensure your product is positioned to capture the value flow once complements become commodities.

insights.euclid.vc5 min read

MOST FOUNDERS ASK THE WRONG QUESTIONS IN VC FUNDRAISING MEETINGS

Here's the thing most founders miss - those VC meetings aren't just about getting a check. Every investor you pitch has seen hundreds of startups, and that experience is yours to tap if you ask the right questions. Don't waste your entire slot running through slides. In a 30-minute meeting, talk for 8 minutes and listen for 22. Ask things like "How would you describe this to your partners?" or "What risks am I not seeing?" or "Have you seen companies like mine crash and burn?" These questions turn investors into free consultants and show you're confident enough to handle tough feedback.

theventurecrew.substack.com4 min read

HOW TO SHIP LIKE A STARTUP

Figma Slides' success was driven by prototyping, open collaboration, and a strong team culture. Encouraging direct user engagement and fostering a startup mindset helped maintain agility and innovation. Empowering every team member as a product owner and finding passionate believers were key strategies in effectively launching new products.

lennysnewsletter.com12 min read

03TOOLS & RESOURCES

MRGE

Code review for the AI era.

mrge.ioTool

COLOSSAL (PRODUCT)

Colossal is a platform that helps developers find and integrate pre-built AI agents into LLM applications.

colossalhq.com

LANCEBOARD (PRODUCT)

Lanceboard is a freelance platform that matches tasks to freelancers using an AI-powered ticketing system.

lanceboard.com

04MISCELLANEOUS

HOW TO LIVE THROUGH A CRISIS

Market disasters are "only passing episodes" in our march forward. Remember this is temporary. Choose "alive time" over "dead time" by using crises to experiment and grow.

hellooperator.substack.com3 min read

AI CREATION PLATFORM ARCADE EXPANDS FROM JEWELRY TO HOME GOODS

Arcade, an AI marketplace for jewelry design, is expanding into home goods with a rug creation tool and a "Match My Room" feature. The company announced a $25 million Series A round for growth and platform development. Founded by Mariam Naficy, Arcade leverages Midjourney and Stable Diffusion and plans to introduce new categories like ceramics and apparel.

techcrunch.com3 min read

CEO FORUM 2025 — CO-ELEVATION THROUGH INTROSPECTION

Goldman Sachs and Lightspeed hosted an intimate dinner for gaming and AI leaders during the Game Developers Conference. The event focused on candid discussions about professional challenges and opportunities among key industry executives. It aimed to foster meaningful connections and deeper partnerships in the gaming industry.

lsvp.com6 min read

05QUICK LINKS

HOW SNOWFLAKE GOT TO PLATFORM-MARKET FIT

The 3Ps framework shows how companies must evolve their go-to-market strategy through three distinct phases: Problem-Market Fit (exploration, experimentation), Product-Market Fit (focus on best customers, coordinated teams), and Platform-Market Fit (customer expansion, scaled operations).

gtmonday.substack.com3 min read

HERE WE GO AGAIN? MAYBE.

Startups should secure the rigging and get ready for heavy weather.

newsletter.angularventures.com2 min read

MARKET ENDING MOVES

Consider making "market ending moves" – ones that decisively win a market.

blog.eladgil.com3 min read