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I don't like to call unprofitable ventures businesses. They might be a business one day. A business creates profit (wealth) by creating value in the eyes of the
by RA_Fisher 8y ago
I don't like to call unprofitable ventures businesses. They might be a business one day. A business creates profit (wealth) by creating value in the eyes of the customer and then charges for it. Profit, if arrived at honestly, is a measure of good returned to society.
- paulsutter 8y agoYou’re describing positive unit economics and any responsible startup has that even if it’s not yet profitable. > growth has to be responsible (positive unit economics on growth spend)