Basic economics says you should never sell anything (including what is essentially a bundled product) at less than the price required to provide it. But over the last 10 years “smart and stable genius” Venture Capitalists have resolutely refused to invest in startups that are foolish enough to believe that sustainable profits are a good thing, instead pouring hundreds of billions of dollars into “unicorns” that are predicated on making ever-greater losses as far as the eye can see. The adumbration of a global reckoning is only now appearing, though it’s debatable whether any VCs will lose their own jobs as a result.

Anyone who enjoys my articles here on Medium may be interested in my books Why Democracy Failed and The Praying Ape, both available from Amazon.