What are the technical reasons why languages like Python and Ruby are interpreted (out of the box) instead of compiled? It seems to me like it should not be too hard for people knowledgeable in this domain to make these languages not be interpreted like they are today, and we would see significant performance gains. So certainly I am missing something.
Merely replacing an interpreter with a compiler won't give you as big a performance boost as you might think for a language like Python. When most time is actually spend doing symbolic lookups of object members in dictionaries, it doesn't really matter if the call to the function performing such lookup is interpreted, or is native machine code - the difference, while not quite negligible, will be dwarfed by lookup overhead.
To really improve performance, you need optimizing compilers. And optimization techniques here are very different from what you have with C++, or even Java JIT - an optimizing compiler for a dynamically typed / duck typed language such as Python needs to do some very creative type inference (including probabilistic - i.e. "90% chance of it being T" and then generating efficient machine code for that case with a check/branch before it) and escape analysis. This is hard.
Why is (python|ruby) interpreted?