Hi Takash,

Yes, that's true. For a lot of startups to get funding these days, be it mobile app or web platform, they are selling the 'big data and AI' angle. But very deep pockets are needed for those. Kuaishou in China burns about US$57 million a day!

https://www.scmp.com/tech/enterprises/article/3117572/ipo-prospect-kuaishou-has-big-issue-how-bag-profit-300-million-who

How many startups will be picked today by VCs to keep burning at that rate...

Cheers,

Lance