[tqi]

> they've found their market, such as it is, but it's smaller, more competitive etc., than is needed for hypergrowth... so the company thrashes about trying to figure what else to do while trying to keep its business running

In a lot of cases I think it's even worse than that-- VCs advise their portcos to keep swinging for the fences, even if it means pivoting away from their modestly successful niche, since a single and a strikeout are effectively the same to them.