Verb Technology Company Inc (VERB)

[Real McCoy]

Those were hardly “early stage companies” - those were mature companies that encountered fierce situational headwinds and had to pivot or die.

What’s being presented here is almost like losing 5% is to be expected for great companies. And most great investments require the fortitude hang in through these kinds of losses.

You must admit that, very generally, most companies that lose 95% do so on a trajectory of going to 0, and that most investments that turn out to be great, do not have a trajectory of losing 95% on their way there.

Again, that doesn’t mean there isn’t appreciation and progress in store for this company. But to be fair to a reader, there is as much likelihood to the downside as there is upside in the medium term, and moves of 5 or 10X are extremely rare, though possible, and it is far from more likely here just because that represents a return to a past valuation.