Private Airbnb email on how a VC missed out on a unicorn
To gauge the venture-scaliness of an idea, investors look for:
- Large enough market: Are there enough people (or companies) spending enough money for you to be able to generate $100M in revenue per year—and eventually $1B in revenue a year? This usually means that the total addressable market (TAM) needs to be $5B or more. And the bigger the better
Lenny Rachitsky • Your startup idea probably isn’t venture-scale
