> resorted to deference to authority by saying the founders they invest in went to the right schools and nobody else could understand because "they weren't in the room."
Marc Andreeson tried to defend Groupon's use of a non-standard accounting metric by saying all the critics didn't know what they were talking about because he was "in the room" when the decision was made, and the critics were not.
Given how things worked out for Groupon, I think it's fair to say that non-standard accounting metrics are non-standard for a reason.
That was one of many things that made me skeptical of pmarca and a16z.
Marc Andreeson tried to defend Groupon's use of a non-standard accounting metric by saying all the critics didn't know what they were talking about because he was "in the room" when the decision was made, and the critics were not.
Given how things worked out for Groupon, I think it's fair to say that non-standard accounting metrics are non-standard for a reason.
That was one of many things that made me skeptical of pmarca and a16z.