So brad is asking us to ignore the irrational exuberance that surrounds funding and acquisitions in our sector? That sounds like bad advice. Business is not done in a vacuum and if you ignore the weather you risk freezing to death or dying of heat-stroke.

The example he uses of the 2008 economic crisis is a bizarre one because the only short term effect it had on startups, since we don't use the money markets, is that we all made sure our money was below the FDIC deposit insurance limit. Other than banks going under, it had little short term effect on us. [Longer term it resulted in a recession and less customers]

Not being able to raise money has a profound effect on cash flow planning and the competitive landscape. Asking us to ignore that is not good advice.