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What's the Bottom Line of Enterprise Value?
A single channel dependence, meaning you only have one way of getting customers. If tomorrow that shut off, you'd be screwed; good investors don't take risks like that. So these are deal killers. These are things that get you to not sell or sell for very, very little money. And so if you can show that you have a lot of future sales and it's very likely they're going to happen, then you have a very, very valuable business.