OK, so here we have a phenomenon that has taken on historically huge proportions in the era of the Everything Bubble: More or less wealthy people with liquid assets are plowing their money into cash-burning companies, and not just startups, but big companies too, that have been around for many years with tens of thousands of employees and billions of dollars in revenues, that are still burning cash. And there are a lot of them.
Some of the most shining examples just this year are: Tesla, which received another $2.3 billion from investors in early March; Netflix, which received another $2.2 billion from investors in April; Uber which received another $8 billion from investors during its IPO in May. Tesla and Netflix will burn through this money in about a year. Uber might take a little longer.
Then there are a whole bunch of permanently cash-flow negative fracking operations that received all kinds of funds. But it also includes the many hundreds of startups that receive millions and billions from investors without even having a business model or revenues.