It's not. Most of those "innovators" are still posting losses in the hundreds of millions

> Uber just got included into the SP 500. One of the pre-requisites for that is being profitable on a GAAP basis.

Because you can somehow lose a billion dollars a year for 10 years, become a publicly traded company with a steatement "we don't even know if we'll ever turn a profit", still continue operating at a huge loss for several years, write off 6 billion in losses, and finally become profitable enough to be included in S&P.

Any any other, sane world, Uber would be gone after two years of losing a billion dollars a year. Not crawl into S&P after 10 years of unsustainable losses.