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You see operating leverage with companies like these that really do a good job of monetizing that fixed cost base. There was a great blog post this week from Liz Reid, the head of Google search. Once we did our IPO, then we were a platform and also an exitstrategy for the other entrepreneurs.
It now often makes more sense to have an explicit strategy of partnering (as opposed to competing) with best-in-class general partners (GPs) who have the scale or niche expertise required to originate and add value in large global markets. Some are even looking at alternative exitstrategies. this week.
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