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Munger would later call Buffett an “implacable acquirer,” like John D. Rockefeller in the early days of assembling his empire, who let nobody and nothing get in his way.17 With hindsight, some people felt hard done by, enticed, or even misled. Others said to themselves, in effect, Well, that’s just Warren. I should have known.
The Snowball
Alice Schroeder
Phase 2: Get to $2 million in ARR (annual recurring revenue). In this phase, the founders are closing all the new sales, so the name of the game is landing the “right” starter clients and perfecting your sales pitch and funnel strategy. Assuming your average deal size in the $30K-$80K range, this means getting to 30-60 customers. Completing this phase usually takes a year or two.
The SaaS Adventure
techcrunch.com
This is much more of a VC-style bet, but the scale is just another level entirely: Magic Leap has raised somewhere over a billion dollars, but that’s a bit over a month of Facebook’s promised metaverse investment. It’s also 33% more money than the amount that Other Bets was spending when Larry Page set up Alphabet.
Facebook Earnings, Investor Trust, Facebook Reality Labs
stratechery.com
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