datalopers

This goalpost hasn't moved for 14-yrs.

[1] https://www.microsoft.com/en-us/research/wp-content/uploads/...

$arr1 = [1,2,3]; // $arr1 is a pointer to a zval array [1,2,3] and refcount:1

$arr2 = $arr1; // $arr1 and $arr2 are pointers to the same zval array but incremented refcount to 2.

$arr2[] = 4; // at this point, $arr2 creates a new zval array, copies over the data from the first, sets the recount to 1, and appends int(4). The [1,2,3] array has its refcount decremented to 1 as it's still referenced by $arr1.

[1] http://hengrui-li.blogspot.com/2011/08/php-copy-on-write-how...

1) Tech valuations over the past ~5 years were based entirely on annual revenue multiples. 25x was the norm, while 50-100x wasn't hard to find.

2) Let's say your VC firm owns 5% of CompanySaaS, which you paid $1M for, and the company is valued at 25x ARR ($800k * 25).

3) Now you invest $100k in CompanyWhatever. As their VC and valued advisor, convince them they should spend $100k/yr utilizing CompanySaaS's products.

4) CompanySaaS is now worth $900k * 25 (probably higher multiple since revenue is growing so fast), or $22.5M, and you just turned $100k into $125k.

Rinse and repeat. It's a self-perpetuating bubble, and it's going to come crashing down hard. It's already happened but they've still got enough runway for another 6-24mos.

Founders just take the bare minimum to survive, anything else is just irresponsible.

You've just described 99% of crypto though.