Making money by what measure? Cash on cash return? Current cash flow? GAAP profits? Making investments with a positive expected value? If I buy a government bo

Making money by what measure? Cash on cash return? Current cash flow? GAAP profits? Making investments with a positive expected value? If I buy a government bond I won't "make money" until the principal is repaid. But that doesn't mean I acquired a liability - it means I invested money in something. Likewise for buying real estate or any business that monetizes a capital asset. Are those not real businesses? Investing today for uncertain earnings in the future is perfectly legitimate, in tech, in brick & mortar businesses, really in anything. It doesn't mean you can be unrealistic, but it does mean that you shouldn't be short-sighted.