That second part... why that isn't ALWAYS the focus is beyond me.
Edit: Adding a clarifying statement as my point wasn't specific enough. I'm very aware that early stage investments are VERY speculative, but when we're talking about a company moving into 1BN+ valuation territory, fundamentals should be in focus.
There are certain technologies and trends whose full potential is not presently obvious, or realizable, and the ability to exercise that potential could be capped or cut short if investors force a near-term focus on profits. It's the same reason why we ideally teach children any number of skills which have no direct application to their future vocations. Future options are sometimes more desirable than current profits.
Business fundamentals -- bottom-line numbers on the P&L statement -- are not furthered by increasing the number of active users alone, or by delighting users. Only ad revenue would increase the fundamentals being discussed here.