One question that kept coming up this week was whether investors are more interested in a growth story or a path to profitability. Everyone, especially those from outside the U.S. are baffled by unicorns like Lyft and Uber that state in their respective prospectuses that they may never be profitable. As you can imagine the discussions and opinions on this topic are wide ranging.
I had a conversation recently with an old friend who has joined a new startup. His company is considering making a pretty big investment in its employees. He had remembered that I started my career at IBM some years ago and often noted how good the training was. At that time, we’re talking mid 80’s, the company invested countless hours and dollars in fairly comprehensive sales, service, and technical education. I spent the first year and half attending monthlong courses in IBM’s Atlanta and Dallas education centers. When I was back in NYC the company paid for me to take classes at the NY Institute of Finance.