People used to say this about Amazon all the time. Remember how Amazon basically didn’t turn any real profits for 2 decades? The joke was that Amazon was a charitable organisation being funded by Wall Street for the benefit of human kind.

That didn’t last. People in the know knew that once you have a billion users and insane revenue and market power and have basically bought or driven out of business most of your competitors (Diapers.com, Jet.com, etc) you can eventually slow down your physical expansion, tighten the screws on your suppliers, increase efficiencies, and start printing money.

The VCs who are funding these companies are hoping that they have found the next Amazon. Many will probably go out of business, but some might join the ranks of trillion dollar companies.