$FB was barely profitable, IPOing with a 400 P/E. And they had losses in two consecutive quarters a year after the IPO[1]. AMZN wasn't profitable for 7 years,

$FB was barely profitable, IPOing with a 400 P/E. And they had losses in two consecutive quarters a year after the IPO[1]. AMZN wasn't profitable for 7 years, then fell to unprofitable again in 2012 and 2014[2]. AAPL was net in the red from 1996 to 2003[3]. So, were all these companies "Ponzi schemes" during the eras where they were investing in growth? And if your only qualification is to "be profitable" for something not to be a Ponzi, then why are you here ragging on places like Coinbase? Coinbase is a 5.7 P/E company with $4b in net cash right now. [1] https://www.fintopea.com/quote/FB/income-statement https://www.fintopea.com/quote/FB/income-statement [2] https://www.fintopea.com/quote/AMZN/income-statement https://www.fintopea.com/quote/AMZN/income-statement [3] https://www.fintopea.com/quote/AMZN/income-statement https://www.fintopea.com/quote/AMZN/income-statement