The majority of public VC backed companies are not profitable and those are the best of the group. Must be 90+% of VC backed companies are unprofitable, and that’s ignoring all the ones that just shut cause they can’t make money
Yes, but the author is making a strong claim that is untrue, that "Companies which receive VC funding are not profitable", specially since from VC economics THOSE VC-backed companies that are profitable are the quintessential part of the equation!
BTW that's not even entering on the fact that "profitable" is not even clearly a financial goal for large companies: on one end Amazon has been "unprofitable" for a decade or so but that's BS ofc. On the other end WeWork was unprofitable as well but was highly valued, and that was BS ofc (being highly valued).
