[tedmiston]

That Silicon Valley episode and PG's Don't Talk to Corp Dev essay have a very similar takeaway. Interesting that they both came out around the same time in 2015 as well.

One counter I would make to PG's essay is: investors, whether accelerators, VCS, or otherwise, predominantly benefit from big exits... and so they have that effect of pushing towards polarized outcomes ($0 or big). But "small" exits can still be very meaningful for founders.