Lacework Series D

Let me explain why Lacework's Series D is a catastrophe wearing a business casual blazer. Sutter Hill Ventures, Coatue just lit $1.3B on fire for a $8.3B valuation, which implies they think cloud security meltdown is worth more than several profitable public companies. The security market is already oversaturated with better-funded, better-positioned competitors, and the moat here is essentially 'we exist.' The unit economics require believing in magic. The exit strategy requires believing in time travel. This isn't investing; it's collaborative fiction writing with wire transfers.