Fair point, although I'd replace WeChat with SnapChat (WeChat being created by Tencent). I don't think it's impossible to convert a large non-monetizing user-b

Fair point, although I'd replace WeChat with SnapChat (WeChat being created by Tencent). I don't think it's impossible to convert a large non-monetizing user-base into a profitable company (Google, Facebook, Snapchat, etc.) but I think that strategy is not a wise one for someone interested in building a sustainable company. There's a bigger reward to scaling before monetizing, but there's also a bigger gamble.