Key Metrics

Definition

The numbers a startup tracks to measure success, carefully selected to be whichever ones happen to be going up. When those numbers go down, they become vanity metrics, and new key metrics are discovered.

Example Usage

"Our key metrics this quarter are daily active users, engagement rate, and vibes, because the revenue numbers are going through a transitional period."

Related Terms

Intermediate

Lean Startup

A methodology for building companies by testing hypotheses quickly and cheaply, based on a book that every founder has read and none have followed. It's called lean because by the time you're done pivoting, your bank account is extremely thin.

🚀 Startup / VC

Beginner

liquidity event

The magical moment when your paper wealth becomes actual money you can spend—typically through an acquisition or IPO. It's what everyone's working toward but few actually experience.

🚀 Startup / VC

Intermediate

Hockey Stick

A growth chart that shows flat revenue followed by a sudden exponential spike, resembling a hockey stick if you squint and ignore the part where most startups never reach the blade. It's the most fictional graph in pitch decks since the invention of PowerPoint.

🚀 Startup / VC

Beginner

metrics-driven

A company culture claiming to make decisions based on data analysis rather than gut feeling, though which metrics get measured mysteriously align with what leadership already wanted to do. It's astrology for MBAs.

🚀 Startup / VC

Advanced

j-curve

The pattern where a venture fund initially shows negative returns as it deploys capital and pays fees, before (hopefully) shooting upward when investments exit. A graph that looks like the letter J, assuming your fund doesn't remain in the vertical downstroke forever.

🚀 Startup / VC

Intermediate

follow-on funding

Additional investment in portfolio companies by existing investors in subsequent rounds. Doubling down on your bets or, less charitably, throwing good money after bad while hoping the first investment wasn't a complete disaster.

🚀 Startup / VC

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