Indeed, because they are productive businesses with revenues, cash flows, assets and most importantly, growth. Folks point to GOOG growing from $800/share 5 yea

Indeed, because they are productive businesses with revenues, cash flows, assets and most importantly, growth. Folks point to GOOG growing from $800/share 5 years ago to $2800/share today (3.5X roughly) as a sign of inflation, when of course their price to sales ratio has remained roughly constant (some delta for lower interest rates, higher leverage, cyclical trends, etc) and their revenues have grown and continue to grow exponentially. Up almost 3X since 2017. [1] [1] https://www.macrotrends.net/stocks/charts/GOOGL/alphabet/price-sales https://www.macrotrends.net/stocks/charts/GOOGL/alphabet/pri...