A VC Gets On Board with Profits, Not Revenues

I found this story from Fred Wilson, Union Square Ventures. I've always found his posts to be thoughtful and useful:

"I think that's an important part of the economics of the web that are left out of most discussions of Internet business models. Yes, we are turning analog dollars into digital pennies in many cases. But we are also doing the same thing on the cost side, maybe even more so. And I think that "operating leverage" is going to create a lot of value."Read the Whole Story at A VC, Jan 2009

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