In well-functioning capital markets, profit should be the sole criterion for corporate survival. In other words, companies reporting losses should go away. However, these days, loss-making companies are receiving more investor attention than companies that are making some profits. Unicorns, or startups with a valuation of more than $1 billion, are examples of these loss-making companies. What has changed over time? When and why did loss lose its meaning? The author's new series of research papers provides some answers to guide managers in making the right investments. That is, investments that produce delayed but real benefits, that is, investments that not only generate short-term accounting profits but also reduce shareholder wealth in the long-term.