Well and their assets are massively depreciating. This is the best kept secret in tech: digital platforms DO depreciate except of course accountants don't know this. What's a tech platform worth after 5 years with no updates or maintenance?
I think the issue here is that their PE ratios are > depreciation period. Like they're purposefully not factoring in long term costs to their valuations. Or they are but investors aren't
Count me among them. Their content is not satisfying, hasn't been for years.
Well and their assets are massively depreciating. This is the best kept secret in tech: digital platforms DO depreciate except of course accountants don't know this. What's a tech platform worth after 5 years with no updates or maintenance?
Depreciation is income
I think the issue here is that their PE ratios are > depreciation period. Like they're purposefully not factoring in long term costs to their valuations. Or they are but investors aren't