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It is because operating at a loss to drive share price can produce a financial "win" - this thinking is counter-intuitive to most. in venture, value doesn't live doesn't live and die on the bottom line, innovation and the "belief" of huge "future" upside is more important.
It's the reason that uber was able to burn ~$900M in the first half of 2015 while growing their value to ~$50BN. It's why Amazon was able to operate flat from 2012 - 2015 yet triple their share price during the same time.
If an investors shares in your company remain highly valued, they don't care if you lose money. As long as other people are willing to trade cash in exchange for their shares at a higher price than they paid, they make money.
I recently read an interview from 2015 with the CEO of Slack where he was asked if his company was really "worth 3 billion?" and his response was: it is worth 3 billion because people say that it is"
At the simplest level, people are brokering in faith. Faith is maintained by the belief that through innovation, the future value of the company will be worth more tomorrow than it is today.And under this assumption, so long as the faith is maintained, the value of your company will grow regardless of how much cash you burn.