The requirement to grow is itself the issue here. Is the 57 million to serve the constituency by making a better company, or is it to figure out a way to grow in order to pay 100x or more to the original investors? And are those the same things, or are they at odds?

I’m all for a company raising money in order to fulfill its purpose. But I’m always concerned when a company takes in so much money that it has to change its purpose — and sacrifice the original value proposition — in order to satisfy successive rounds of investors. The more money Medium takes, the more likely we’ll see ads and other distractions.

Author of Team Human, Present Shock, Throwing Rocks at the Google Bus, Program or Be Programmed, and host of the Team Human podcast

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