> He then continued running the business at a loss, paying out of his own pocket for the next year The year-by-year outlook of profit vs loss is arbitrary. Ho

> He then continued running the business at a loss, paying out of his own pocket for the next year The year-by-year outlook of profit vs loss is arbitrary. How did the decade by decade history look? Any losses? Why not look at businesses second by second? Sometimes you’ll lose in 1 second what will take thousands of seconds in profit to make up. Largely corps distribute their profits to protect past earnings against future losses, but risk short-term insolvency which should be at their own risk. Likely they funded the ongoing survival of business because walking away from its equity value would have resulted in greater losses.