Dear Startup, is your customer acquisition process truly scalable?

Apparently Your Startup’s First 100 Customers Don’t Actually Matter (Aaron Dinin, PhD @ Medium)

Early customer acquisition may not be as valuable a metric as most investors and entrepreneurs think
Investors have learning curves. By that I mean most of them don’t just magically pick winners the first time they write a check. Instead, many of their earliest investments don’t pan out, and, like entrepreneurs, they use what they learn from failure to improve their strategies and try again.
As you might imagine, it can be a costly learning process. I witnessed it firsthand during a lunch with a f...