Trust me, it's VERY easy to have negative cash flow, for any business
My point is: I'm not sure why Cheezburger thinks it's impressive to set up Wordpress blogs of other people's images without breaking the bank.
These guys have a GREAT growth curve and healthy margins- rare in the content world. Heck, look at Reddit. Great company, soaring page views, barely profitable.
I'm sure you're similarly unimpressed with Yelp? Threadless? Digg? Reddit?