This is such a stupid and uninsightful analysis. You can tell just by the terms they use. A company that isn't profitable isn't necessarily "losing money". Sur

This is such a stupid and uninsightful analysis. You can tell just by the terms they use. A company that isn't profitable isn't necessarily "losing money". Sure the amount of cash on hand can be declining, but if the business is building long-term assets such as a consumer brand, recurring transactions, differentiating IP, etc., that's hardly bad business management. In order to really understand this you have to look company-by-company at what's really going on with the financials. If someone wants to give away for 75 cents something that costs a dollar, sure, that's a fast lane to bankruptcy. But there are tons of other cases, including aggressive new customer expansion, trying to create winner-take-all network effects, development of core IP, etc. that really will create long-term benefits for their owners. Using "profit" as a metric is such bullshit. Ask Amazon. They focused on creating as much free cash flow as they could for two decades, and look where they are now. Why someone would insist a company earn an accounting profit, or even worse, pay cash dividends, in an environment with a sub-2% fed funds rate and near-zero returns on cash to investors is silly. I would much rather have a company with 10-15% return on equity "lose my money" than hand it back as relatively useless cash. tl;dr read Ks and Qs, this stuff isn't amenable to sound bites.