Hollywood accounting. None of them make a “profit” because they’re taxed on profits. Now it’s possible that they really are losing 180 million (a lot of startups like uber coast on investors with the assumption they’ll turn a profit at some point) but I wouldn’t take their word at face value.
Not to shill for Spotify, but the very link you sent shows they made 3 billion in REVENUE, not profit. They actually lost 180 million dollars.
My guess - these price rises are because the VC tap is getting turned off
Hollywood accounting. None of them make a “profit” because they’re taxed on profits. Now it’s possible that they really are losing 180 million (a lot of startups like uber coast on investors with the assumption they’ll turn a profit at some point) but I wouldn’t take their word at face value.