[notahacker]

We can't fault founders for building a profitable business and taking cheap money before the growth tails off. But shouldn't there be some evidence of a viable master plan to spend that $30m turning it into a $300 million business for it to be an investible opportunity? I can't help thinking the "ephemeral crap" market is looking highly competitive and that the competition is more sophisticated and addictive.

[ryanwaggoner]

But shouldn't there be some evidence of a viable master plan to spend that $30m turning it into a $300 million business for it to be an investible opportunity?

To the investors, yes. To the general public, no.