How do you monetize a large user base without credit cards? How would they get teens to get their parents to pay for the ability to send nude pics to their friends?
Meanwhile, millions of small businesses paying $10 a month for secure document shredding with years of increasing profit remains large ignored by the media, nobody bats an eye. Nobody puts an insane valuation on it because it's not cool. So business is no longer about positive net cash flows but spending it. Whoever spends money in the coolest way is the winner as long as you got investors who suddenly forgot what happened the last time we were in the new and hip economy.