[openthc]

This is a big part; some of these new/young companies are now traded on TSX! Many many others (100s I'm aware of) have taken outside money. They thought they were going to be huge but didn't calculate their SAM properly (at all?). Some of them are stuck "unable" to sell at a competitive price because of pressure from up-stream investors to show profit. Meanwhile, a number of smaller self-funded companies are still just chugging along - no investors; no huge growth; just a moderate margin w/no debit. What the VCs call (pejoratively) a "life-style business.