> What if they start digging to find there's no depth behind this surface? Then the investors stand to lose money. Investing is a bet, right? If making money

> What if they start digging to find there's no depth behind this surface? Then the investors stand to lose money. Investing is a bet, right? If making money here were a sure thing -- e.g. if they already had the money in hand -- then they wouldn't need to raise capital. Maybe your question is, why would anyone invest in a company without a business model, particularly at this valuation? I'm not an investor, but I'm sure part of the calculus is looking back in history towards similar companies.