DHH – The Bubble Has Popped

world.hey.com

15 points·afhammad··5 comments

> Asana lost an incredible $285m in 2021, $210m in 2020, and $118m in 2019. They're on track to losing even more with over $370m in losses booked for the trailing twelve months. That's closing in on a billion dollars in losses over the last four years

Kind of basic question I've had for a long time is, where do these companies get money from?

They are losing money, do they just take loans till infinity? This can't be true right? Twitter has been unprofitable for years, that doesn't mean it was just running on loans? Right?

They sell equity either to VCs or in the IPO and they also have loans. e.g. Asana carries around $30M of loans and they still have over $200M of cash which I guess is left over from the IPO. https://finance.yahoo.com/quote/ASAN/balance-sheet?p=ASAN Twitter had $5B in loans (and $6B in cash) when Elon bought it.

Is there a job board for companies that are trying to be simply profitable like basecamp? If not, what should I look for in company job descriptions or… I don’t know, I’m completely clueless here and don’t even know the right question to ask it seems.

One thing to look for is "is this company a private or is it listed on a stock exchange and has to [at least to a large extent] think from quarter to quarter and please both long term investors and day traders"

True, but in my experience even the private companies are trying to be unicorns and accepting large amounts of VC money

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