Here's why I make that case:

AirBnB was founded in 2008 and didn't turn their first profit until 2016 - blowing through hundreds of millions of dollars before then!
Uber was founded in 2009, and still hasn't turned a profit, losing nearly $900m in the second quarter of 2018 alone.
Palantir was founded all the way back in 2003, is a major player in data analysis for governments across the globe, and still loses money daily.

It sounds insane that a business could be that old, that established, and still losing money. We all assume that once we get our big break, we'll have it made! The cash will finally start flowing, and we'll be golden.