Yes they can - once the market stops believing them, private equity takes them private, cuts costs massively and streamlines, then gets re-acquired or goes public again much improved - minus the founder.

It is interesting how some companies have a valuation based almost entirely on this illusion. I'm sure there's a Silicon Valley episode that covers this.

> not headed for global dominance

I guess global dominance is shown more by metrics like MAU/Revenue per user and so on