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> You gotta give it to the tech industry for constantly tricking investors into paying for junk and ignoring that they make no profit. It probably has somethin
by alasdair_ 3y ago
> You gotta give it to the tech industry for constantly tricking investors into paying for junk and ignoring that they make no profit.
It probably has something to do with the fact that most of the biggest and most profitable companies on the planet are tech companies. Meta, Google, Amazon etc. all famously made no profit for a long time.
- karaterobot 3y agoStill, it would be a fallacy to conclude that because a company makes no money, it may be the next Amazon. You need some way to consistently distinguish between unprofitable companies. That is probably pretty hard, and sure enough investors have an embarrassing track record at doing it successfully.
- 93po 3y agoSam Altman has one of the best track records and he chose to go all in on OpenAI without even getting compensated for it, so that definitely says something.
- sharts 3y agoThe problem is that most tech companies and entrepreneurs seem to think they are going to be the next “big thing.” And so many tech folk seem to also think they’re Wozniak underneath their imposter syndrome.