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📊 EBITDA Positive ≠ Profitable: The Startup Illusion/delusion EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is just a fancy term used to prevent yourself to be called loss making and shows reduced losses 1. Depreciation

EBITDA is like dressing up your financials for a party, but underneath, you're still bleeding money. The real challenge is surviving long enough to turn that 'positive EBITDA' into actual profits.