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Era of Lean Startups Nears an End

After about a decade of lean, capital-efficient startups, I believe we’re moving back toward a world of more expensive startups with higher initial capital requirements.

That’s not necessarily a bad thing, but it will change power dynamics between founders and investors and put pressure on  incubator models. It means that the low-dollar-investment, high-internal-rate-of-return party enjoyed by angel investors is over.

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