May be a Naive Question: Has there ever been a time, where Tech or Software companies have to pay tax even when they are un-profitable. And if not, given the historic low interest rate, why not borrow and continue to grow until the company can no longer manage to spend all your debt? Correct me if I am wrong I think that used to be the playbook for Amazon.

There are companies which I dont understand why they are keeping all the profits and not reinvesting for R&D or other purposes. I must be missing an angle on this. Apart from investors, what else would it be?