The bubble has popped for unprofitable software companies.

Basecamp cofounder takes a bite out of his unprofitable competitors in this recent blog post. “The venture capitalists who invested in Asana, Monday.com, and Smartsheet surely all made out like bandits when these unprofitable software companies went public. Now every single one of these stocks is getting destroyed in the public market, as investors sour on the idea of them losing hundreds of millions of dollars every year chasing growth with no prospect of profits in sight.” | learn more