> most startups leading up to an IPO manipulate their profits into looking great. They're clearly not - or if so, they're doing a pretty bad job at it, because

> most startups leading up to an IPO manipulate their profits into looking great. They're clearly not - or if so, they're doing a pretty bad job at it, because most big-name tech startups that have announced IPOs have posted a track record of losses, not profits.