i'm not typically a fan of the 37signals blog posts which come off to me as arrogant. this one makes me laugh though; it does a really effective job of poking fun at the broken parts of the VC model.

That article was intended to be a joke. 37signals (now Basecamp) is private and doesn't publicly announce revenue or profits -- though Jason has acknowledged both are in the millions.

it's satirical but is it a joke? valuation is not a pure function of revenue and profit. unless i am missing something this valuation is as real as Twitter's or Facebook's. that's the joke.