We can debate definitions and labels but that's not really relevant to the discussion imo, name it whatever you want, what I'm referring to is a company taking VC money to accelerate growth.
Once you take VC money, like Figma did, your goal is a lucrative exit.
It's high risk, high reward. It's a different way to build a company, and it's not really possible to change that once you take that route.
Doesn't mean you have to do this. I am all for building steady profitable private companies that aim for the long run, I think it's a great way to build great companies, but then you should stay far away from VC money, take a lot less risk, have different compensation strategies etc etc.
For everyone else, notably generally those that actually produced the thing of value, the reward is that if you're VERY VERY LUCKY, you get to keep your job.
Once you take VC money, like Figma did, your goal is a lucrative exit.
It's high risk, high reward. It's a different way to build a company, and it's not really possible to change that once you take that route.
Doesn't mean you have to do this. I am all for building steady profitable private companies that aim for the long run, I think it's a great way to build great companies, but then you should stay far away from VC money, take a lot less risk, have different compensation strategies etc etc.