[hn_throwaway_99]

> This shows a fundamental misunderstanding of how public markets work.

I disagree. Most importantly, what we are seeing with so many companies being unprofitable is historically unusual. Now, I guess in 2020 everything feels "historically unusual", but it's kind of BS to denigrate someone by saying "they fundamentally misunderstand how public markets work" when the public markets didn't work this way until quite recently.

See https://markets.businessinsider.com/news/stocks/ipos-for-unp...