My alternative isn't one that most people would accept, but I'd be fine with money losing companies ceasing to exist.

I'm fairly confident that Snapchat could make money charging their users, if the fee is sufficiently small. Say $10 per year, perhaps as an in-app purchase, with the first 6 month being free.

We also may have to accept that some of these companies, Twitter seems the most obvious, isn't actually providing anything of tangible value to the average user and therefore can't exist. Of cause if some investors wants to keep throwing money at Twitter to keep the lights on, they're more than welcome. I know I'm not exactly being friendly towards Twitter, but it's a great example of a company that needs to fail. The only reason they don't is because investors have already wasted so much money that they're desperately trying so save it in hope of making the money back, by some miracle. Part of it might also be that investors, journalists and bankers are so heavy users of Twitter that they fail to see that the business isn't sustainable.

In the end the user will always be the one to pay the bill. Either by directly paying, or indirectly via advertising.