The quick flip era is dying.

$NOMAD's PG at Singapore CONNECT: Founders can't just launch → pump → exit anymore.

New meta = 2-5 year business plans. VCs want real runway, not bull cycle grifts.

If you're still building for the next exit window, you're already late. The market's filtering for actual businesses now.

Bull runs still print, but the bar just got 10x higher.