I’d wager that a lot of these could be profitable, just not profitable enough. Investors don’t want solid slow and steady business. They want billion dollar unicorns.
I’m talking specifically about companies that post a loss every quarter, like Backblaze does. Backblaze’s net profit in Q4 2024 was -$14.38 million. Their net profit is going up year over year, but it’s still negative.
I’d wager that a lot of these could be profitable, just not profitable enough. Investors don’t want solid slow and steady business. They want billion dollar unicorns.
They also often want growth beyond what the original market niche supports.
I’m talking specifically about companies that post a loss every quarter, like Backblaze does. Backblaze’s net profit in Q4 2024 was -$14.38 million. Their net profit is going up year over year, but it’s still negative.