Bob woke up at 6 a.m. on his Casper mattress (market cap of $313.44M with a net loss of $89.56M last year). 

He then rode his Peloton bike (market cap of $34.93B with a net loss of $71.60M last year) while listening to a podcast on Spotify (market cap of $53.11B with a net loss of $581.00M last year).

Later, he checked Slack (market cap of $24.60B with a net loss of $300.42M last year) for updates before getting ready for work. 

He took his usual Uber ride (market cap of $107.34B with a net loss of $6.77B last year) and headed to WeWork (whose market cap fell from $47B to under $4B last year and had a net loss of $3.2B last year).

It’s only 9 a.m. but the companies that powered 3 hours of Bob’s life had a cumulative loss of almost $11B last year while still holding a cumulative market cap of $183B.

Many of these companies will never turn profitable by their own admission.

Many have the ability to cast a big vision, but few have the appetite to master unit-level economics.