"Any company can theoretically choose to not be profitable, by reinvesting all of its profits, and investors typically don’t care if their value is returned via growth or dividends. " - the Amazon model for its first 20 years :).

Amazon was founded in 1994 and it started to make profits reliably in 2016 : https://www.macrotrends.net/stocks/charts/AMZN/amazon/net-in...