For every Theranos and WeWork, there’s Uber, Coinbase, AirBnb. I know they didn’t raise as much as OpenAI, but it wasn’t insignificant amount of money burning before they became profitable with large market caps. It’s very strange times we’re living in.
AirBnB has been profitable for two years. Coinbase’s financials are complicated by them holding a substantial amount of cryptocurrency, but they’ve been profitable for two quarters even with significant losses there.
Yup, I think all three are posting about 500M/quarter profits on average for the past year or so. Might be wrong though, I don’t really keep up with all of them.
