but it’s downright bizarre that Reddit can’t figure out how to make money.

Because of (venture) capitalism…

They made more from people giving it to them. If the company posted a profit, they’d have to pay taxes

So they pay themselves and amass assets.

If it fails you keep your salary and sell the assets. If you owe more than that’s worth, declare bankruptcy. If not, collect a check.

Startups stay in this phase right up till IPO, where they try to flip to profits as fast as possible. Then you can not only declare x profits, but y% increase in profits.

Tldr:

They’re nonprofitable by choice. This method just doesn’t work during a recession.