Early in my VC analyst days, I was so focused on the *what* – the revenue multiples, the growth rates – that I completely missed the *why*. We passed on a Series A for a SaaS company in late 2018 because their customer acquisition cost seemed a bit high on paper. Fast forward two years, and they were acquired for a tidy sum, having brilliantly optimized their go-to-market. It was a stark reminder