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Well, just to show you a microcosm of what happens when VCs find the bigger fool in the public market when they IPO money losing companies….

https://medium.com/@Arakunrin/the-post-ipo-performance-of-y-...

> One thing you're right about - Anthropic isn't surviving - it's thriving. Probably the fastest growing revenue in history.

Growing revenue and losing money is not “thriving”





Most companies will much rather have the problem of becoming profitable given amazing revenue growth than the problem of not having growth but being profitable. (e.g. Dropbox)

But many of the companies won’t be profitable at all. I’m sure the investors are happy when they find the “bigger fool” after IPO.

But someone who invested in the hypothetical “YC Index Fund” wouldn’t be too happy.




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