A few charts from this morning’s video, related to Zoom and Tesla, among others.
Zoom is a nice tool, we also use it at Inderes for remote interviews, but is it worth 130 billion dollars?
Everyone knows Tesla is a winner:
The triumph of technology is condensed into this difference between the Nasdaq100 and MSCI World indices:
Of course, even if valuations stretch into a full bubble, the situation may be difficult to pop as long as financing conditions remain liberal and the money supply expands like there’s no tomorrow.
A P/E of 50x could be the new norm, and even if the growth of tech companies inevitably slows down after this year’s surge, for example, 20% annual growth might appeal to investors if the alternative is machinery companies and banks growing at 0-2%.