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Issue link: https://digital.macdirectory.com/i/1190434
– it's worse if they believe it - saying they are going to change the world and are therefore worth mind-boggling multiples just seems…wrong! The problem is they follow the same route as the person in front of them because … it's the thing to do. Too many of the start-ups measure their success by comparing their valuation to the guy's next door rather than the progress they are making in solving real problems for potential customers. There are the people who burn through a few billion, see no profit on the horizon and the underwriters/VCs say it's time take the enterprise public. Take Uber. They went public last year raising $8B, even though they never earned a profit. Instantly, they were valued at $75B and reported a loss of $1B on $3.1B in revenues for the quarter following the IPO and $1.8B on income of $11.3B in 2018. Investors complained…they didn't lose enough! So, they tried harder by dabbling in other stuff and were told that all those people driving for them were really employees which slowed them down … a little. Cripes! Pets.com only lost $61.M on $5.8M in sales and had to close their doors. BAM! the greatest hand puppet we've ever seen was suddenly out of a job. Who would think buying doggie/kitty stuff online was a good idea? As with a lot of startups … timing sucked! But they tried. WeWork or simply We is the latest in a long line of big losers causing the media to question if perhaps unicorns really are fictional: - Close, intelligent look by CB Insight - https://tinyurl.com/ yd9956h8 - NY Times - https://tinyurl.com/ y2b5vdvs - Recode's Kara Swisher - https:// tinyurl.com/y4bnozun; - The Verge - https://tinyurl.com/ y2d7t54t and well before that a close and searing look by In fact , We trails it s closes t competitor (IWC ) in every