3 ms·
GAAP is nonsense. cash flow is what matters. i suggest you go look at all of those non cash charges and see if you think they are really expenses of the busines
by fredwilson 14y ago
GAAP is nonsense. cash flow is what matters. i suggest you go look at all of those non cash charges and see if you think they are really expenses of the business.
- lsb 14y agoWait, why are generally accepted accounting practices nonsense? And, if so, why are they generally accepted? I don't know much about accounting, so this question is in earnest.
- fredwilson 14y agothey are generally accepted by the accounting profession. but not by investors. investors tend to focus on cash flow. at least the smart ones do.
- jpdoctor 14y ago> but not by investors. At least, those investors interested in the appearance of a viable company, as opposed to those who are interested in a bona fide profitable company.
- jpdoctor 14y ago> GAAP is nonsense. cash flow is what matters. Apparently, GAAP cash flow is news to you. Also, the fact that you're not interested in profitability says everything that I need to know about you and your firm.