When liquidity dries up, sentiment turns, mkts turn, people move
—AWAY from abundant nonsense buzzwords (that poorly measure value)
—TOWARDS scarcely used accounting & finance principle terms (that better measure value)...
—from "eyeballs" and "stickiness"
—to "CASH is king" "path to PROFITABILITY"
You WILL be old enough to remember the next transition
—from ARR, MRR, GMV and other foofoo terms
—to "cash flow", "contribution margin"...
To be clear: intentional maneuvers + misrepresentations to mislead investors w/a mistaken impression of operating performance & profitability
A key source of fraud few are paying attention to:
Secondary SPVs
Perfect con/ponzi:
-Perceived scarcity + insider access (supply)
-Low transparency
-FOMO + greed + bragging rights (demand)