zlacker

They came right out and told you: nobody cared if nine out of ten investments were a total loss, provided the one had enough juice to make up for it. And, "juice" is an extremely vague term here: it could mean profitability, but given that there was so much money sloshing around, usually it just meant that the stock price jumped enough for investors to cash out - but that stock price was not necessarily tied to any tangible performance, much of the time.

The real giveaway though, was the fact that stock dividends - you know, the thing that historically you buy stock for - are basically unheard of among all but the biggest companies in tech (and even unheard of among some of those). We have now an entire generation of leaders in tech for whom profitability has been this kind of abstract notion they didn't have to think about much, which explains why they all seem so ham-fisted now that they're being forced to.

>>decipl+(OP)
That is a brilliantly worded comment.