Comment by benzor

Apologies for some hastily chosen examples. I think the point still stands if you consider the following companies: WeWork, Lyft, Snapchat, Pinterest, Dropbox, Slack, Casper, Lime, Peloton, Beyond Meat, Wayfair, Zillow.

More generally speaking, take a look at Goldman Sachs' Non-Profitable Technology Index:

https://pbs.twimg.com/media/EsRVCiMXIAE7xlA.png