Earnings-based valuations are so 20th century. The way to justify $100B market cap today is "I can sell these shares to someone else at $120B valuation next yea

Earnings-based valuations are so 20th century. The way to justify $100B market cap today is "I can sell these shares to someone else at $120B valuation next year". Line goes up is the motto for the 2020s, and assets are valued on everything but actual earning potential.