Too many consumer-tech companies nearing their public offerings are selling magic shows at a science fair. The unicorns aren’t doomed, even if their old valuations are. But they have to change their stories, and their businesses. Magic made them. Only math will save them.
The fact that it takes an article to conclude nonsense billon dollar loses might not be a good idea shows the sophistication of investors. The band wagon affect needs to stop. We need to demand sound business models that show earnings on a per sale basis (expenses minus charge) needs to triumph. Money should not be made on speculation of market presence. Money should be made in a profit per transaction (after a certain threshold). The best businesses are the most simple. Get into the black at x and sell every a to earn b. Simple