According to an article in the WSJ, the proportion of unprofitable companies going public has surpassed a previous high of 81% in the year 2000:
“About 83% of U.S.-listed initial public offerings in 2018’s first three quarters involve companies that lost money in the 12 months leading up to their debut, according to data compiled by University of Florida finance professor Jay Ritter. That is the highest proportion on record, according to Mr. Ritter, an IPO expert whose data goes back to 1980.”
To date this behavior has been rewarded. Per the article, stocks of money-losing companies have increased 36% this year, which compares favorably to a 32% increase for IPO stocks for profitable companies, and a 9% increase for the S&P 500.