This is an incredibly poorly written and just straight up incorrect article. The entire premise is based on the idea that: 1. Investors will cash out at IPO (v

This is an incredibly poorly written and just straight up incorrect article. The entire premise is based on the idea that: 1. Investors will cash out at IPO (very false). 2. These unicorns are overvalued and playing just to get to IPO (also false). Most VCs will hang on to significant equity post IPO and as evidenced by every tech company ever, the IPO is just a start. Amazon wasn't profitable for years but look at it now. This is how investing in innovation works, sadly the Guardian has no clue as evidenced by this passage in particular: "In that quest, you need to be both ruthless and profligate, because those incumbents are normal firms that have to make profits – a tiresome obligation that does not trouble you. So the deal you offer to investors is this: you give us shedloads of money and stick with us until we get to be the winner that takes all. And then you can cash out." EDIT: Also yikes at the comments on this article. It looks like the Guardian knows their audience because those are some super tech hostile readers!