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Message: <blockquote data-quote="Over70irregs" data-source="post: 5532199" data-attributes="member: 59424">This cannot end well.“Of the 91 recently listed tech groups that have reported results so far this year, just 17 reported a net profit. They spent a cumulative $12bn in cash last year — a total that would have been even worse were it not for the standout performance of Airbnb, which generated more than $2bn. On average, cash-burning companies spent 37 per cent of their IPO proceeds during the year.”-Financial Times-</blockquote>