There's possibly some decent arguments in there but they are shrouded by inanity. They aren't "profitless-on-purpose". They understand the simple fact that a do

There's possibly some decent arguments in there but they are shrouded by inanity. They aren't "profitless-on-purpose". They understand the simple fact that a dollar is better spent building the business than sitting in a bank account. The author simultaneously degrades startups for not having other business lines to fund them while also degrading the VCs that do. The retirement funds care about returns not portfolio business model nuances. Pretty much every credible "money losing" business I've seen needs to be able to project out profitability at modest scale. Google Shopping Express and Ebay Now are far more perplexing form a cost perspective. If physical businessed can't compete on cost then rents need to come down or they need to figure out how to benefit from their advantages (location, service, etc).