I looked at Airtasker a couple of times as a learning experience...

I looked at Airtasker a couple of times as a learning experience and out of curiosity.

Why does anyone even buy this share???

A ton of red flags:

1 - Negative free cash flow for years. Are you hoping for "this year it's different"?
2 - Yes, Positive free cash flow this year, I know. But the valuation is ridiculous. Market cap $124M / $1.2M FCF = 103x P/FCF valuation!! This is nuts.
103x is 0.97% FCF Yield. You're better off buying government bond that will pay you 5% Yield with the least risks.
FYI, Amazon - one of the best businesses in the world is currently trading at 40x P/FCF. Do you really think AirTasker should be valued higher than Amazon?
Ok, you can use EV = $124M - $17M Cash = $107M. This is still 89x FCF.
3 - A history of share dilution: Since IPO they've issued new shares massively to raise money (because they're not profitable to pay for their expenses). New share issues -> share price go down.
4 - Dodgy accounting. Playing with numbers to make up the numbers.
5 - No moat. No loyal customers. Users want to go private after doing a task.
6 - Untrustworthy management. If you ever read Tim's words in their annual report, you'll find him untrustworthy. It's normal for a company to be unprofitable for some years, but management must be candid, admit mistakes and do the right things for shareholders.

Airtasker has been destroying shareholders value for years. How many people have lost money on ART shares?

Yet, Tim was singing all the good things about ART to lure new investors in. No apology or remorse from him. In other words, he's trying to promote ART share to get more investors into his sinking ship.

If you want an example of candid management, read Warren Buffett's shareholder letters. Or read Atlas Pearls ATP annual report.

ATP was near bankruptcy for 4 years 2017-2020. Management was candid. They borrowed a small bank debt, sold one of their businesses. In their darkest days, management lent his own money to the company to go through the rough time. No new shares were issued, no dilution. Management paid themselves modestly. They pulled off a spectacular turnaround since 2021 and turned a profit ever since.

This is where you can entrust your hard earned money to the company and management knowing they won't screw you.

How many red flags do you need to see at Airtasker to scare you off?