The Flip From Small Buyouts to SAS Investing

Meferi: The last four or five years, the markets generally in tech and VC investing have been through some quite remarkable changes. And that's really the topic that we're going to focus on in this fireside chat is just to kind of have a deep dive into how you've seen that pan out. So it would be interesting just to sort of hear how that time period has appeared to be from the standpoint of a VC. Meferi: We went from what we thought was pretty lofty kind of 4-5 times ARR multiple valuations to losing deals at 12, 13 times annual recurring revenues.