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2015 is the end of an era, the era of startup growth at any cost. In 2016, the question that will immediately follow, “What is your annual growth rate?” will be “What are your unit economics?” This change in investor mentality is catalyzed by the increasing cost of startup capital. Starting in 2014, and perhaps even a bit before, startups have been able to raise capital at better terms than at any time since 2000.

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