Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and Development Conference in Washington

Broke Billionaires (and Other Ridiculous Signs of The Top)

Uber, WeWork, Lyft, Slack, Peloton, Pinterest– there are so many tech companies, or companies masquerading as tech companies– that consistently lose tons of money. It’s absurd. In finance, a startup that eventually becomes worth more than a billion dollars is referred to as a ‘unicorn’ because it’s supposed to be so rare that it borders on impossible. And that’s basically what these companies are– donkeys with fake horns. They’re not real unicorns.
They bleed cash. Many of them have no hope of ever turning a profit. And the rock-star famous people who own them are often just “Billionaires In Name Only,’or BINOs.

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