The bubble has popped for unprofitable software companies

I feel like everyone with any common sense has known this forever, but everyone has been trying to ride the cheap money train for as long as possible. The question is who gets off in time and who is stuck on the train when it rides off the tracks? Has the train already left the last station?

I agree with DHH that there may indeed be a reckoning coming for these companies that can't find a way to even out those balance sheets. It's very easy to lose hundreds of millions a year and say it's all because of growth. But with interest rates way up and investment banks not willing, or not able to throw you more and more funding lifelines, companies simply aren't going to be able to do that for long.

I also think it's silly how many people chase multi-billion-dollar unicorn status instead of "settling" for building a smaller yet still highly profitable and stable software company. But I also grew up in a sensible but sleepy Midwest college town and not Silicon Valley.