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I DID build our company around fundamental financial principles that have stood the test of time, the most important one being PROFITABILITY. Before the "growth over profits" strategy came into play, companies who went public needed to be cashflow positive (by way of EBITDA)
Companies who were not at least cashflow positive would never have even been in the discussion of an IPO. However, you fast forward to early 2000s and the notion that "growth is all you need" sent businesses (specifically tech) on a rocky path.
You ended up with IPOs like Groupon and Zynga that got the massive pops due to their "tech" affiliation, but when the curtain was opened and the public saw no path to profitability they were quickly dropped and consistently struggling to stay afloat.
Today has been the clearest example of just how important profitability is. (The old adage "Cash is King" playing well here as well) Zoom having an initial offering of $36 that shot over 80% to $62+ is a clear indicator of how much the public values the ability to make money
While the public is currently very bullish given the state of the markets, they will take smaller, riskier bets on tech because it has been historically strong or on growth numbers because they're "sexy".
But in any state of the economy the public will ALWAYS be bullish when a company shows the ability to make money. This is why I believe in the path to profitability and why we have built @Egnyte the way we have. I am very happy for @EricSYuan and his team at @zoom_us
But I am also appreciative to them for bringing focus back on the value of profitability. I believe this will be a strong inflection point for the public, shifting investors eyes towards those who can turn a profit versus those who are simply growing at any cost.
