Why would you assume that software-as-a-whole has lost money? The industry is full of un-subsidized, non-cyclical, high profit companies... Microsoft, Apple,

Why would you assume that software-as-a-whole has lost money? The industry is full of un-subsidized, non-cyclical, high profit companies... Microsoft, Apple, Google, Oracle, Autodesk, IBM, EMC, CA Technologies, Saleforce.com, etc. Not sure why it's a silly way of looking at an industry's long term performance. It shows that, while occasional profits are made, the industry is prone to brutal, un-differentiated price competition... So you're saying you believe the Delta CEO when he says "Industry May Never Again Lose Money"? [1] Considering the above, I'd be skeptical they're experiencing more than temporary, cyclical profitability. [1] https://skift.com/2016/06/14/american-airlines-ceo-says-industry-may-never-again-lose-money/ https://skift.com/2016/06/14/american-airlines-ceo-says-indu...