A senior banker once told me a funny story about Pitchbooks.
'Making a pitchbook was like building a house in the Philippines. In the Philippines, there aren't many architects so when rich folks want to build houses, they don't have any blueprints. They just get someone to buy the materials and then get a bunch of day laborers to put it up. If they don't like it, they just rip it down and start over. Ultimately, this is cheaper since the day laborers don;t cost very much and the end result is the same as far as the rich folks are concerned.
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