[roenxi]

If I'm reading you correctly you are arguing to something slightly different than what OP said. OP says that if a company can't go cash flow positive it is worthless, you say there there is always a chance that a company might experience a sudden turn around and go cash flow positive. Both are true.

However, theory and practice are identical only in theory. If there is a company with negative projected cash flows relying on a negative-expected-value project succeeding unexpectedly that company is probably near worthless. If ordinary investors are relying on "maybe things won't turn out the way we expect them to"-style logic to make their investment decisions then the market is doomed.

[TeMPOraL]

> However, theory and practice are identical only in theory. If there is a company with negative projected cash flows relying on a negative-expected-value project succeeding unexpectedly that company is probably near worthless.

Well, Uber is an exception to this rule apparently.

The way I read the GP, they're just saying that LLCs are good to be used for gambling.