In almost every loss-making unicorn’s pitch to prospective investors, there has to be an Amazon comparison — how long they took to become profitable and how they became the most valuable company in the world.

But how many of them are really similar to Amazon? Are we even comparing apples to apples or is it just a convenient excuse that founders use to justify their investment?

Or, is it a case of the blind leading the blind, where VCs themselves do not know how to accurately identify value generating companies or are blinded by their presumed knowledge and understanding of the market?

Is it a game of luck or pure skills in selecting the right company to back?