In 2020, you could credibly argue that ZIRP explains the world, but that’s an impossible argument to make in 2024 when zero-interest rate policy is only a fond memory. Instead, we’re seeing a number of companies designed for rapid expansion learning to adapt to a world that expects immediate free cash flow rather than accepting the sweet promise of discounted future cash flow. This chapter wants to tackle that problem head-on, taking the role of an engineering organization attempting to n...
