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Issue link: https://digital.macdirectory.com/i/1190434
Running on Empty Negative Income Unicorns Can't Be Worth More Than Real Companies By Andy Marken "An I.P.O. is an initial public offering. It's the first time a stock is offered for sale to the general population. Now as the firm taking the company public, we set the initial sales price then sold those shares right back to our friends." – Jordan Belfort, "The Wolf of Wall Street," Red Granite Pictures, 2013 We're pretty certain Anand Sanwal and his team at CB Insights didn't develop the idea of unicorns -- startups valued at $1B + -- however, they did make them one of the most hunted animals on the planet. Folks lust to have them in their portfolio--especially when the valuation is stratospheric. Profit and loss – and prospects – are so meaningless. Are you Sh(kidding) me? Sorry, our eyes don't glaze over when a kid drops out of college and talks another bunch of kids into give them a couple hundred million to start a company. They can focus on spinning fairy tales, buying other folks with worthless stock and blowing through the cash, so they ask for more because… Somehow, glamorizing infant companies that seem to focus on losing money hand over fist by tongue in cheek