As the market for talent gets more efficient and the supply of housing remains constrained, the required burn rate for startups will rise, making them an increasingly expensive indulgence. Rewind the Airbnb story but with higher rents and it’s a story about three guys who ran a novelty website for a while before they all got jobs designing marketing microsites for Oracle.
It doesn’t matter how amazing your product is, or how fast you ship features. The market you’re in will determine most of your growth. For better or worse, Gumroad grew at roughly the same rate almost every month because that’s how quickly the market determined we would grow.