Yep somewhere along the way we forgot that you can't become profitable on volume when marginal revenue is negative. This is first-year business undergrad stuff.
I don't think they forgot that, the general plan has been successive rounds of funding so you can say "valued at" at increasingly high values, then an IPO or a sneaky exit through secondary market share sales. Then some dummies who aren't you are left holding the bag.
Yep. That’s the worst part — all these startups and people’s time and effort are just a ploy by rich people to get richer.