Just as high profile tech stocks are taking a beating in the market, we’re starting to hear the same incredible claims about how the tech industry is magically different in articles that would feel right at home in 1998. Most recently, Fortune senior editor Dan Primack declared that profits don’t matter when it comes to tech IPOs.
Growth drives IPOs, but without profits those prices decline
“Today's IPO buyers care about two key metrics: 1. Growth. 2. Total available market, into which that growth can be realized,” he writes.
On one level Primack is just saying...
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