This time is different: Interest rates are the lowest they've ever been and the money spigot is on full blast. In such an environment zombie companies can continue to exist for a very long time, continuously getting new rounds of funding despite having very low or no profits at all.
>> from the article:
"No matter the actual business of the company at hand, it’s probably calling itself a tech company and reaping the rewards of that sweet, sweet VC cash."
"Technology" is just so broad as to be meaningless. Google and Facebook are advertising companies. Microsoft is a software company. Amazon is part retailer, part cloud hosting company. Netflix is an entertainment company. Apple is a luxury personal computing device manufacturer. They barely even compete with each other except for employees. Why even pretend they are the same type of company?