The Shape of Bubbles – The Madding Crowd
When capital is cheap, as it is today, it can be very hard to determine if a business is burning cash because it is ‘investing’ so heavily or if it is stuck in an market with unsustainable economics.
When capital is cheap, as it is today, it can be very hard to determine if a business is burning cash because it is ‘investing’ so heavily or if it is stuck in an market with unsustainable economics.