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Apparently, this is a hot take.. Startup vintage of 2023-2025 is slowly realizing that fancy launch videos & focusing just on distribution MIGHT lead to VC funding, but still leads to money being lit on fire when you should have been spending equal (if not longer) time on retention. Momentum (in lieu of anything else) has ceased to be a moat. It never was in the first place, and the numbers (seed -> series A gap) are starting to show this. We'll see acquihires at a much faster clip than we've seen before.