Earlier quoted context omitted.
Are there any social networks, in existence, at scale, which do not rely on advertising as their primary revenue source?
Not really? Maybe Patreon or OnlyFans represent the best examples. But there weren't any real EV companies or private space companies before Elon Musk threw his hat in the ring. Whatever you think of him, he's clearly capable of doing things people previously believed to be impractical. Taking a first principles approach, there's no reason to believe that a social network used by the most influential companies, peopl…
Social networks are valuable because of users. They gain value by attracting large numbers of users.
They have limited inherent value, and the majority have features which are easy enough for rivals to replicate.