@simonbeard_official: Airtable just sold for $2.2 billion and it actually looks like a failure once you look closer. $965 million of that was just cash sitting in the bank. The real business was worth closer to $1.2 billion. They were valued at $11 billion in 2021 and did nothing with the capital. Bending Spoons buys legacy software like this, guts the costs, and rides it down. This is what happens when SaaS companies raise crazy valuations and never had to prove capital efficiency. Meanwhile AI first companies with tiny teams are hitting product market fit and scaling without raising a dollar. Higgs Field is the perfect example. No capital raised means you keep all your equity and all your control. You can pay dividends along the way and pivot as fast as the market moves. Nobody can predict what actually has terminal value in this AI world right now. Expect a lot more deals like this one.
