Here's a thread on why it can be smart to let your winners ride.

TLDR; tech enables winner-takes-all dynamics and thus rewards execution in an outsized manner

Early on it might be difficult to know if your investment in a company will turn out to be a big winner or not.

But fast growth usually happens when company has found product-market fit, economies of scale, and or/network effects.

When a company has hit its stride and one's investment has gone up substantially, it's easy to be tempted to pull money.

And sometimes that's the right move to do.

But on occasion the company is on a path that will eventually lead to massive domination, and you want to hold.

Technology is enabling companies w/world-class execution to be able to achieve a winner-takes-all market dynamic, cause tech amplifies advantage/product superiority of the company.

Markets are increasingly global and hyper-competitive, so when one product sticks out it's clear.

Technology and the Internet also amplify network effects by which each additional user of the network adds value to every other users on the network.

The networks created by the best tech/internet companies are massive and become a huge competitive advantage.

When a company wins in one hyper-competitive global market, they can take the same world-class execution and leverage their previous tech/know-how to enter new markets.

This is why I only invest (or at least try to) in companies with world-class execution.

Tech companies are eating industry by industry, and they eventually encroach on each other... going head-to-head.

And the winner is the company whose pace of innovation is fastest.

So, if my investment is a company that has product superiority and is pushing the limits of world-class innovation/execution, then my default is to let that investment ride even if the stock price might seem frothy at times.