There was once a chip company which got started with the not insignificant capital sum of $1.6 billion.
The company built four fabs including mainland
The company grew its sales revenues very quickly, but it very rarely recorded a profitable quarter. After nearly a decade in business it had racked up losses of over $1 billion.
Nonetheless it made a nice profit for its initial venture capital backers in an IPO which raised over $1 billion.
MORAL: There's Nothing So Strange As Accountancy.
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