[conformist]

By “not terrible” you mean “bad but not very bad” and not “good” right?

[kibwen]

"High variance, slightly-negative EV shots on a long time horizon" is a gambling addict's way of justifying the old adage, "sure, we're losing money on each sale, but we'll make up for it in volume!"

[hattmall]

Disagree, it's way more like overall our sales are losing money, but the long term plan is to get a buy out.

A strategy that works for a non-trivial amount of startups.

The idea is that if you play incorrectly long enough eventually a bigger better that's more wrong then you will come along.