They're still early on the growth curve where there's enough opportunity for future growth that investing in scaling and improvement is more important than turning an immediate profit.
Remember when everyone on HN was sure Uber would never be profitable? Or Tesla? Or Amazon?
I do remember that, and I would say that they are still largely correct. Tesla needed government subsidies, Amazon needed AWS, and Uber needed a pandemic and Uber eats. The core businesses that HNers were referring to are still weak.
Remember when everyone on HN was sure Uber would never be profitable? Or Tesla? Or Amazon?