Steer Technologies Inc V.ARGH

Not so long ago

[NineLives]

A business was measured on it profitability which also ensured it's survival. Rule #1 at business tech, if you haven't made a profit by the end of 2 years make it soon or go bankrupt. These days many managers seem happy to just bring in high revenues with no profit knowing that their zombie company will be supported by continued financing as they sell their own shares to gullible investors. 
So basically the fundamentals of a sound business have been thrown out of the window due to cheap unlimited money being printed.

[SWInvestor1]

I'd agree that buying on fundimentals of a company is almost impossible in tech. It seems facedrive's strategy was to skip raising money from VC' because it would be easier to trick/convince the public markets. 

[NineLives]

yes Hi Tech is a little different it can take quite a few years to gain a solid foothold, but companies in the delivery business are a little more basic and it seems revenues not profit rule. The panademic has certainly kept lots of companies from folding, I'm not sure that's a good thing in the long run, just kicking the bankruptcy can down the road for others to deal with. Right now food

[Assucker]

It actually wouldn't be bad if they were actually trying to run a business and burning cash from retail investors. I looked at their "services" and they have almost no available rides, almost no available food delivery, and their tracesham is useless. All of their "news" reports are paid advertisements. I just wish I could short this. I would