[metafunctor]

Selling at 4x makes sense if you already have another business that you could grow faster with that cash available to invest now rather than later. Especially if your new business has the potential to grow much larger than the old (say 10x or more).

Also, perhaps you believe your time is better spent on the new business, rather than tending the old. This is especially relevant if the business you're selling takes a lot of time to run.

But agreed, if you have nowhere to invest the cash, selling at 4x seems like a bad idea.