You don’t need to be profitable to raise billions of dollars in this economy, as long as you have a plan to eventually control a sector of the economy in a way that convincingly reminds your investors of Amazon. You don’t even need software margins to be valued as a tech company: you just need an elegant logo, overinflated executive compensation, and Kombucha on tap, wrapped up in a feel-good corporate mantra proclaimed in a tasteful sans-serif. Is this just the morose fate of technology, to be a signifier for the most profitable outlets for capital? Are we doomed to remain in this bubble of
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