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Correction is one thing but saying "stocks are dead" is hyperbole. Just my poor ass startup is paying Google Cloud around 1 million USD a year to have our oper
by weatherlite 2y ago
Correction is one thing but saying "stocks are dead" is hyperbole.
Just my poor ass startup is paying Google Cloud around 1 million USD a year to have our operations going. We're quite a cheap company but we're totally dependent on them.
And Cloud is a minor part of Google's earnings they have Youtube, Search, Android etc etc. This isn't a bubble, these are real earnings that are probably not going away any time soon. Does it mean Google is bullet proof? No. They may experience a big correction at some point but that has always been the case for all companies.
I can make the same case for Meta, Microsoft, to lesser extent Amazon. I'll leave Tesla aside it's indeed too richly valued.
- n_ary 2y agoI meant red(dead). Also losing a lot of valuation after jacking up to that point is not fun. Also a business paying $1M/year in cloud bill is neither poor nor tiny. We have very different definition of tiny and poor. Meta is very well suited in this AI race and will prevail well. Others will cut some loss and throw some ashes sometime soon.