But, is it possible for a company to continually sacrifice assets without generating profit and still remain a going concern, favored by the capital markets? Apparently so.

- Groupon
- Tesla
- Uber
- Spotify
- SnapChat
- Yelp
Maybe it all boils down to the question of “How long is the long run?”
Logic tells us that you can’t keep sacrificing value forever. The investor must believe that there is value creation over some horizon.
Peter
