> Do you guys not know what a loss lead is?

We don't know which of today's companies will be successful and/or highly-valued in N years' time.

Check Cisco's valuation on March 27, 2000; it was briefly the most valuable publically traded company in the world. Almost everyone believed it was worth it. Then it fell 88% over two years.

Full disclosure: some of us are old enough to have held stocks during the dot-com boom. Fortunately I was still a student and therefore too poor to have had any significant amount of money to lose :)