"How do they make a profit"

They currently do not under most accounting rules.

But they do generate revenue by selling overvalued stock and overpriced advertisement. Basically, Wall Street uses metrics like "eyeballs" and "growth trajectory" to justify lofty price targets, the market accepts it, and they are crowd-financed.

It's a Ponzi until they can actually find a way to monetize a cesspool that also circumvents Constitutional Law.

Disclaimer: I'm short the stock.