At the Web Summit tech conference in Lisbon, Portugal this week, potential investors had a common message to tech start-ups: show us how you're going to make money.
Investors have shifted their attention toward profits following WeWork's failed IPO and a string of high-profile public offerings from loss-making companies like Uber, Lyft and Peloton.
Entrepreneurs and investors told CNBC the path to profitability is more important than a company making money right away.LISBON, Portugal — For tech start-ups trying to secure funding and go public, being in the black is the new black. At the Web Summit tech conference in Lisbon, Portugal this week, more than 2,000 start-ups vied for the attention, and pocketbooks, of venture capitalists, big tech companies and investment firms. Potential investors responded with a common message: show us how you're going to make money.
"The narrative on the distance to profitability and the path to profitability becomes a bigger part of the story versus growth at all costs, and you're seeing that return," said Ravi Viswanathan, founder and managing partner of venture capital firm NewView Capital, in a panel Thursday titled "Is Silicon Valley Pivoting to Profits?"
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