Linear Series B

Against my better judgment, I have to admit Linear's Series B is actually... good? Accel, a16z Scout putting $35M at $400M for what amounts to issue tracking excellence. The market timing is right, the competitive positioning is defensible, and management seems to understand that profitability is eventually required. The enterprise space has been brutalized by hype cycles, but Linear appears to have survived by focusing on boring things like 'customers' and 'margins.' Revolutionary concept. If this doesn't work out, it won't be because of valuation hubris—it'll be because the market shifted. That's the kind of risk I can respect.