I was having a recent argument with a friend about the nature and nessecity of states and cited wikipedia as an example of sucess withyout a state. He told me Wikipedia is going bankrupt. Is there any truth to this?
None whatsoever. That one's been going around at least since 2007.
Just to pile on. Their financials are here: http://wikimediafoundation.org/wiki/Financial_reports and I spot checked a few and they are exact matches for the information the IRS has. They are doing insanely well for themselves.
Did he provide any sources for this or just assert it? If the latter well, you know what they say: "what can be asserted without evidence can be dismissed without evidence."