Perhaps that’s an incorrect assumption, that a unicorn needs to be profitable. All they need is to be growing, and show a potential for future upside. If they make net zero, or even keep losing money, doesn’t matter as long as the growth continues because there is always going to be someone else further down the road willing to buy into the story. In theory.

> there is always going to be someone else further down the road willing to buy into the story

Until there isn't and the Ponzi scheme collapse.

> there is always going to be someone else further down the road willing to buy into the story.

This doesn't point to a successful value adding business but rather mass market delusion...

I mean... if you buy it and flip it in a year for an extra $300 million or a cool billion, who cares if it's a bigger fool theory in effect.

You, when you're the bigger fool.

1) This is all rumors at this point

2) Their revenues increased and the losses stayed the same. Isn't that a path? They also mention a lot of the costs are S&M. If you stop growing that can be drastically cut.