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This article is off by 3.5 years and I bet that most FAANG stocks are still above their values when it was published. Tech “growth” companies has been overpric

This article is off by 3.5 years and I bet that most FAANG stocks are still above their values when it was published. Tech “growth” companies has been overpriced but it made kind of sense as long as interest rates were negative and their revenue was growing… people believed in positive returns because they assumed the only way is up. Truth is … in any healthy public market no company has any business being at a higher than 20 p/e ratio. Unless maybe for a transitioning period of time (market making)

namaria 4y ago
Boom and bust seem to be the prevailing pattern for the development of complex systems. Happens in ecosystems, and in economies. I don't even think it's detrimental... That was how we get a lot of otherwise unthinkable infrastructure development. The dotcom bubble left a lot of very cheap fiber connections that fueled later internet adoption, for example.