As I consider my professional future, I’ve asked myself – am I fit for running a business? Do I have solid intelligence and sound intuition to make smart decisions? I’m not sure, but hopefully soon I’ll found out.
One thing I do know for sure is that companies filing IPOs when they have nine-figure losses makes me furious and I will never support that decision.
Doing so is bad for the economy and it’s fundamentally bad for everyone, especially any non-professional average Joe/Jane investor. Eventbrite just filed and they have around $100 Million in losses in three years. Could they be profitable in the future and recoup their losses? Maybe. Certainly not anytime soon. Let them IPO when that happens.
Letting people gamble in Vegas is one thing, letting people gamble on losing companies that support one of the world’s largest economies?
Is 10 years all we need to forget what subprime lending did to the United States? That it violently threw our economy into “The Great Recession”? This is the same damn thing.
It has me screaming “WHY IS THIS LEGAL?!?!”
- Slack…. $400 Million revenue with $139 Million in losses
- WeWork…. $1.7 Billion (BILLION) revenue with $690 Million losses