Things have gotten a little crazy in late-stage "tech" companies. I mean, I understand that some companies need to grow for years before they can become profitable, and until then, investors can be OK with your losses growing.

But there are too many of these types of companies. It doesn't make sense. You've got Lyft, Uber, WeWork, and probably a whole host of others who have kept their financials close to their chests.

Maybe one or a couple of these companies figure out how to turn a profit that justifies these losses and valuations. My guess is most of them won't. I only wish I could confidently say which is which.