When does Lemkin say we last 'lived in a 6x world'?

Jason M. LemkinCEO, SaaStr · Co-Founder of SaaStr AI, SaaStr Fund, Adobe Sign

The Challenging Reality of Stagnant Valuations: Is the Tech Industry Stuck?

1 Feb 2024 · 1 min

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0:48

A short conversation (transcript excerpt) featuring Jason M. Lemkin expressing concern about stagnant public-company valuation multiples (~6x). Lemkin says the market hasn’t truly operated at ~6x public-company multiples since 2017–2018, cites companies like AppFolio, Cloudflare, and Mongo as examples, and warns that permanently lower multiples would stress the tech funding system.

Questions this video answers

2017–2018

Chapters

My, my. I'm discouraged for the first time in my career at public multiples and I.
Am worried that.
If we stay in a 6x world that we haven't really learned to live in a world where companies are worth 6x, they get funding's.
Harder but.
We haven't lived in a 6x world for real since 2017. 28. Like if you look at Appfolio which I just wrote up today, if you look at Cloudflare, if you look at Mongo, it's almost the best it's not the best of times but it's darn close, right? That's a long time ago.
Right, so we don't, we, we, we're.
Not going right now. We actually haven't gone back to 1819. We've gone back further and I'm, I'm, I'm totally, I, I'm excited about how the fastest can grow but this multiple.
Thing, you.
Know, if it, if it, if we stay here forever, it just, it puts a lot of stress on.
The system and.
Maybe it's deserved.