Then there was car sale site, Beepi, which would hire mechanics to check and detail your car, sell the service for a small commission, and deliver it to the buyer with a bow on the front. They threw $150 million at this (must have been some fancy-ass bows) before going out of business.
But the king of "burning through investor cash without a clear idea of how to make it back" is music streaming. Market leader Spotify pays 70 percent of its revenue to music labels before trying to cover its own overhead. Tidal pays even more, and has been struggling to do so. At some point you have to wonder whether these guys might be better off shoveling cash into some lotto scratchers.
For every Uber or Amazon success story, there are 99 MoviePasses, Beepis, or Kozmos. Not that this is bad ... from a consumer perspective. If a bunch of investors want to foot the bill for your rideshare to a cheap movie while streaming Jay-Z's entire catalog, then great! Just don't expect it to last forever.