On my more cynical days my observed definition from context clues would be:
"A company that isn't profitable, but isn't as unhappy about it as I would be yet."
[edit: Worth clarifying that I doubt Dropbox probably ever qualified under my definition... but that's fine. Who wants to be a startup? I'd rather start a company.]
Maybe I'm a lot more cynical than I thought, but I think this is the best definition of a startup in this thread. I'm continually amazed by stories on HN where people invest significant portions of their lives and/or wealth with no idea of how they can generate revenue.
Now I AM going to get cynical by saying it's in the VCs' interest for this to happen, because they can swoop in and grab the few that do turn out to be profitable. The HN dream is a bit like Hollywood - most of the hopefuls who chase the HN dream are going to end up eating ramen through three or four pivots, before they realise quite how bad the odds are against them. Sorry for such a black thought at the start of the week!
"A company that isn't profitable, but isn't as unhappy about it as I would be yet."
[edit: Worth clarifying that I doubt Dropbox probably ever qualified under my definition... but that's fine. Who wants to be a startup? I'd rather start a company.]