Runway Series D

Against my better judgment, I have to admit Runway's Series D is actually... good? General Atlantic, Google, Nvidia putting $141M at $1.5B for what amounts to hollywood's ai understudy. The market timing is right, the competitive positioning is defensible, and management seems to understand that profitability is eventually required. The ai space has been brutalized by hype cycles, but Runway 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.