Companies celebrate valuations and the amount raised instead of concentrating on the right thing: building a business that is rapidly growing and can be (or is) profitable in short order. In other words, gross margins should be such that at a point in the future you are and can be profitable. And the sooner a business gets to a profitable state, the sooner it’ll be able to control its own destiny. In other words, if you have a business that is, well, a business (and not a project), you can at least avoid the “default dead” state. —Value, Not Valuations, Is Good Business - Om Malik