During the past two decades, corporate scope and priorities were shaped by an abundance of capital. Today the univested capital of private equity funds stands at an all-time staggering high of $3.4 trillion. With such massive liquidity chasing few opportunities, valuations for innovative investments have been high. The prevailing low interest rate environment has only reinforced the focus on growth: With debt so cheap, capital has felt able to afford patience, and the promise of growth, even in the absence of profitability, has been enough to convince investors of the value of a business.