2 ms·
Easy to say until a bunch of small and midsize companies go out of business. From their 2022 filings: * Loss from Operations was $419.7 million, or 40% of Net
by RC_ITR 4y ago
Easy to say until a bunch of small and midsize companies go out of business.
From their 2022 filings:
* Loss from Operations was $419.7 million, or 40% of Net Revenue; Net Loss was $397.8 million, or 38% of Net Revenue.
*2022 Ending Cash and Marketable Securities of $262.4 Million
It had less than one year of runway.
- smcleod 4y agoThis is a bit of a straw man. Companies go out of business for a number of reasons including but not limited to -) The inability to compete with or defend against mega-corps such as Amazon, Google, Facebook etc..., -) Being poorly managed, -) Having a product that people don't want/need. It's actually quite rare that smaller companies go out of business competing with their peers. At the end of the day - what matters more - the success and profits of private companies - or the health and happiness of humans? They're not always diametrically opposed - but they're often not conducive to one another.
- RC_ITR 4y agoIt’s not a straw man. I understand we’ve have been in low interest rate environments for a long time, but access to capital is no longer free and likely won’t be for a while. Companies now do (and will continue) to go under due to lack of access to capital markets. One Medical is actually probably one of the top examples of that kind of company. It would be very hard for them to issue new shares or raise debt to fund their operations. And to the health and happiness of humans point, a bunch of people losing their primary care doctors is again, one of the top examples of bad social outcomes from a company going out of business.