Why wouldn't the whole startup scene be money losing? Seems like a lot of hot money being spent on desperately acquiring customers for unsustainable and insuff

Why wouldn't the whole startup scene be money losing? Seems like a lot of hot money being spent on desperately acquiring customers for unsustainable and insufficiently differentiated or useful products. If the hot angel money disappears the customers for all the dubious startups will too and you'll see some interesting times. Guess we'll really know how many log-parsing etc startups the world needs.