Strange new businesses

"Markets don't appreciate our business model." It's an old complaint, first heard widely during the aftermath of the first dotcom crash circa 2001. Any number of (ex) entrepreneurs felt that their businesses' brand value or eyeballs (as the term used to be) should have been richly valued. After all, old-school businesses had profits, and new internet-age businesses had brand value and eyeballs - almost the same thing, hardly any difference. Unfortunately, two decades and three market crashes later, the same snake oil is still being sold to investors, perhaps with little variation. A few days ago, I saw this video on Twitter, an excerpt from a program on a business TV channel. In this short video, the founder of a 'new age digital company,' Policybazaar, talked about, guess what, how the markets do not appreciate these companies. He drew a parallel to the new 'digital' co