Which reminds me of an interview with a German logistics start-up recently. They are funded by 100 million €, a lot of cash for what is basically a simple forwarder. When the co-founder said, that they don't see any risk for them, because their run-way is somewhere between 12 and 18 months I was shocked They have customers, they charge a margin for every transport. Yet they seem not to be cash positive. And their burn rate is at the very least somewhere around 2 million per months.
Coming from that industry, I have no idea how that is even remotely possible. If the crisis would have hit 6 months later, their situation would have been a lot different. And that during a period where everyone is scrambling to keep transportation and logistics running.
It kinda sucks, because I say it's healthier to have a large number of small, competing businesses than a winner-takes-all scenario.
Generally only governments and massive cash cow monopolies or near monopolies can afford to invest in basic research. That's because on any time scale shorter than a decade basic research is just setting fire to money. You need money to burn to do it.
Most startups die from failing to gain users, not necessarily because they planned expenditures poorly.