Profit

Stop Worshiping GMV. It’s Lying to You.

GMV can make you feel like a winner while your business quietly bleeds cash. This article reveals how financial BP analysis exposes the hidden risks of returns, low-profit traps, and cash flow gaps โ€” using real Tmall data. Learn why the most dangerous metric is the one you’re probably celebrating.

SpaceX’s Stock Is a Faith-Based Investment. That’s About to End.

SpaceX’s IPO valuation is a bet on Elon Musk’s narrativeโ€”Mars, space data centers, AI dominance. But the first earnings report will force belief to meet arithmetic. The real business is Starlink, and it doesn’t support the valuation. The stock is a story, and stories have expiration dates.