Profitability has lately been a hot topic in the tech world. But it's hardly a new headache. One Term Sheet reader unearthed a New York Times article from 20 years ago that rings eerily familiar: “So Lucrative That It’s Almost Profitable.”
Michael Granoff, founder of Israel-based venture capital firm Maniv Mobility, wrote in and said he vividly remembered reading the satirical piece from 1999 by a writer who had a plan for a “business:” selling $100 bills on the internet for $95. The following year, he planned to raise the price to $96 and tell investors that he cut losses by 20% in just one year and was clearly on a path to profitability....MORE
Tuesday, November 26, 2019
"This 20-Year-Old Article Explains So Much About the State of Silicon Valley Today"
From Fortune's Term Sheet, November 18:
