They seem to target very subprime: people who don’t have $200 for an online purchase.
Or else they just replicate a 50 year old tech…. But with an App! Like square.
Or crypto scams.
It’s not that there’s no market or the companies are bad, just that they’ll never justify their absurd valuations with real cash profits.
Similar for B2B cloud software companies. Tons of them in a fairly mature sector with no profits and P/S above 10. Just how big a market do people think HR and CRM software is?[/quote]
Facebook was in very mature sector with an app. Look how big they’ve become. I’m not discounting all the good points you made, I just feel that we need to have some humility toward SaaS businesses.
