[papito]

Once a VC-funded tech company starts maintaining inventory, actually assets, then things get real pretty quick. The only reason these companies become unicorns is because they don't have the overhead of owning stuff. Then you are just any other company.

[marcosdumay]

It's very reasonable for a small company to avoid owning assets and focus on markets where the flexibility of not owning them is an advantage. They don't have money anyway, nor enough people to manage those assets.

It is completely crazy to expect large companies that are burning money to grow not to go after the largest markets just because it needs investment... Yet, that's what you described, and AFAIK you are completely correct.