I just don't understand how companies like Lyft and Spotify can continue to attract billions of dollars in funds when it's clear their business models don't work. Neither company has ever actually made a profit (okay, Spotify did for a single quarter a few years back) but continue to attract insane amounts of money and clout. I understand if they were brand new startups hoping to break out, but these are massive, global corporations with millions of users. They've been around for years and still haven't been able to prove they can make a profit.

Is it just the "it'll happen eventually" cliche hope of the tech world? I simply don't understand how investment firms can willingly lose money on such ridiculous business models then continue to think they're worth something.