Chess.com

“Chess.com never raised primary capital — all investor activity was secondary share purchases. This forced a discipline that became a structural advantage: grow only as fast as cash allows, build culture slowly, and avoid the pressure to chase growth metrics at the expense of product quality.”

“All the operational stuff, all the forecasting and all the kind of operational excellence that we've really brought to bear... as our reporting gets better, we learn more about things... not just for reporting to investors, but actually operating the business.”