If you had a budget which allowed you to purchase the best available domain name for your new company, you would probably search the web and suddenly discover that there are in fact, only a limited number of one word premium dot-coms available. Most of the premium domains were registered and removed from the market decades ago, examples are Apple.com, Amazon.com, Hotels.com and Insurance.com. The companies that own these domains are market leaders in their particular niche. You could of course move to other TLDs but although a lot of tech start-ups use for example the TLD dot .io the jury is out on them. Over the long term in global markets the dot com will probably still be considered the holy grail. Trying to locate the dot com having opted for an alternative TLD when your company has a turnover of millions is very difficult. A full re-brand will be required later. But this is also determined by the simple fact of whether the owner of the dot-com is prepared to sell.
Your domain is your name, your brand identity, everyone searching for you, types your name, every email you send, has your brand name on it, the better the domain, the more authority your brand commands.
Social Media platforms are used by every company, Twitter, Linked In, Instagram, TikTok, they are used for marketing, imagine the impression a one word domain creates like Hotels.com. Venture capitalists looking at funding will be affected by the brand name as well as the goods/ services you offer. A good brand name adds to the package the Venture Capitalist is being offered.
It is clear from this article that great one-word domains command high prices for good reason, a company with a great name, can dominate an entire market place online.