> It used to be that in order to survive, businesses had to sell goods or services above cost. But that model is so 20th century. The new way to make it in business is to spend big, grow fast and use Kilimanjaro-size piles of investor cash to subsidize your losses, with a plan to become profitable somewhere down the road.

nytimes.com/2018/05/16/technology/moviepass-economy-startups.html

> Over all, 76 percent of the companies that went public last year were unprofitable [ . . . ] in the year leading up to their initial offerings [ . . . ] That was the largest number since the peak of the dot-com boom in 2000, when 81 percent of newly public companies were unprofitable.