During the 1990's that would have been uncommon, but not today. Just the opposite, the amount of money chasing 'money losing operations' is extraordinary. Mos

During the 1990's that would have been uncommon, but not today. Just the opposite, the amount of money chasing 'money losing operations' is extraordinary. Most high flying startups today that have working capital needs (like 'food delivery') run at a loss in perpetuity with the backing of entities like SoftBank picking up where public markets used to. I wouldn't dismiss how hard it is to get something like that off of the ground, but once it is, it's almost comical how badly you can screw up and still get money. 'Sonder' formerly 'Flatbook' spent years screwing everything up, they continue to screw up, but because they had a basis of a critical mass and some basis of operations, they've continually been able to get investors to hand over to a net money losing operation that doesn't look like it will have the scale to work. So this issue is relevant to the overall 'Coinbase' picture because we're living in an era of tremendous liquidity, never really before seen in human history, and due to COVID, basically government/central-bank backed guarantees of money and credit. There's no real precedent for what we're doing right now.