OPINION: The 15 biggest money-losing companies in the U.S. have cumulatively raised $93.8 billion in funds and lost $135.1 billion. A failure of these two would be 10 times larger than the previous records for lost venture-capital funding.
David Rush holds a Guinness world record for cramming 100 candles into his mouth and lighting them. Sandeep Singh Kaila spun a basketball on a toothbrush for a record 1 minute and 8.15 seconds. Neville Sharp emitted a 112.4 decibel burp.
Those failures are large, but the cumulative losses of many startups that have not yet gone bankrupt are orders of magnitude larger. The table below shows the funds raised by the 15 biggest money-losing startups in the U.S. Cumulatively they raised $93.8 billion in startup funds and have lost $135.1 billion.
Losses have to be financed and it is increasingly difficult for these companies to do so. Most of these so-called unicorn startups have seen their share prices fall more than 50% in the past year, and many of these stocks are down more than 90%. WeWork isn’t the only unicorn turning into a penny stock.
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