Pinterest can get around this by claiming that it was the user who pinned the photo, not them, and they also allow websites to opt-out from pinning (and some websites like National Geographic actually do that). But if you self-host, you are responsible for what is posted...
I am asking because, if I could legally run a website where I would publish smaller version of any photo I find on the Internet, then well, there's a great monetization potential there. But I don't think it would be so easy.