Ah, but the market never looks back. Just look at Amazon. Hasn't shown a profit in 20+ years, but the stock just keeps going up and up. (Personally, I kept thinking the party would have to end at some point - like it maybe has with Tesla - and the stock would come crashing down. Now I'm starting to think that Bezos is just cooking the books, and when he sees, or thinks he sees, the street turn on him, he'll start showing massive profits and just refuel the rally).