zlacker

Regarding the subscription revenue, it's doable, but you kind of have to start with it, not pivot to it mid-game, because that way your whole company and infrastructure is built with what the subscription model can bring you. I think many of the tech companies are just too big for the product that they manage.

>We have 20 years of evidence on what tech businesses can be built on the Internet that make money. It’s narrow and mostly can’t solve the problems that remain.

People will also want to invest their money into what they think/believe will be the future. My guess is that internet/IT is complex enough that most people don't understand it and see it as “magic” and because it's “magic” who knows what's possible, might as well pour in millions.

But as you've said, the reality always catches up to the truth.