What do you mean by "users"? A business has to have customers, at least in the long run. Those customers may or may not be the people who actually use the products (Google/Facebook/Yahoo/etc - you're not the customer, you're the product). But whether you're making tires or milk or websites or religious experiences or whatever, you have a product, and someone is using it.
I doubt anybody at Goodyear or B.F. Goodrich talk about people who buy their tires as "users". To my way of thinking, saying "users" implies something very specific about the nature of the business in question... eg, Google and Facebook have "users", whereas Goodyear, Proctor & Gamble, and Alcoa have "customers" (or "accounts").
“Your business either has a high life time value per user, or your business has a high viral co-efficient,” said Wertz, mapping out the two paths to startup success.
This makes it sound like everything must be some kind of service, charged on a per/user basis. It completely ignores companies that have customers instead, who sell a product which is used by some unknown set of "users".
Or to put it a different way: Facebook, Google and Twitter have users... IBM, HP, Dell, CA, SAP, SAS, etc., have customers. Not quite the same thing, but the latter still manage to make a lot of money.
That said, the basic point still stands... you can either (A). have a high LTV for a given customer, or you can (B). sell to a large, and steadily expanding base of customers. I suppose you could argue whether introducing new products via brand extensions or line extensions and selling them to your existing customers is A or B or a 3rd option altogether...