> One day I'll actually set aside a few hours to go through a list of all tech companies that IPO'd in the last 5 years, and see which ones have actually made a

> One day I'll actually set aside a few hours to go through a list of all tech companies that IPO'd in the last 5 years, and see which ones have actually made a profit. Gut feeling is that the "flashy" ones are still burning through cash reserves (Asana/Slack/Uber), but the more boring ones (Rackspace/Pivotal/etc) are probably sitting pretty. You might find site helpful. https://postipononprofits.com/ https://postipononprofits.com/ This is outdated a bit in terms of numbers (doesn’t include recent years and excludes many companies), but the broad point remains. You are right, there are ton of companies built around the idea of dumping it on someone else before turning a profit. This has become the ‘formula’ for building companies, unfortunately.