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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 the fancy makeup some startups wear to look good on paper. But, when the glamour fades, you still have to face the ugly truth of interest payments, taxes, and depreciation.