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.
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.
They also often want growth beyond what the original market niche supports.