Every few years, sometimes in sync with recessions and sometimes far outside of them, Silicon Valley experiences a wave of hubris related to how one does or does not run a business.
It’s very simple: Silicon Valley occasionally experiences a foie gras-esque phenomenon where they choose a particular industry or group of industries to pump full of cash. These unwieldy and inefficient companies all have similar hallmarks — insane valuations, effusive press, and very few people asking “but how does the company make money?” The answer, of course, is that these companies do not…
