alt Hacker NewsDriven mostly by "Change in fair value of convertible notes, derivative liabilities, and SAFEs".
If you're going to make a point, make your point - don't just throw numbers around without context.
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nilamo • today at 1:26 PM
Wait what does THAT mean? They got a huge inflow of money, and since they couldn't spend it all, they... bought bonds? And the value of those bonds dropped to nearly nothing?
Because that's worse than losing money, that's incompetently giving it away.
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According to "Generally Accepted Accounting Principle" my friend.
They are costs.
Derivative liabilities, SAFEs - those are basically taking cash from RETAIL shareholders and giving them to employees and early investors INSTEAD of using it to fund the business.
Let's have that discussion if you want, but don't act like a thing that is CLEARLY a COST to the business isn't a cost.