35 () posted 2 years ago by GynaNumbaZero 2 years ago by GynaNumbaZero +37 / -2 65 comments share 65 comments share save hide report block hide replies
I'm not rebutting your argument but I recall two additional maxims
Content is not King
Andrew Odlyzko (2000) - AT&T Labs - Research
which advised me to build infrastructure and not make videos - my fortune via YT lost :)
and
Joel Spolsky's advice in June 2002
meaning if you make infrastructure - give away the content and make it worthless
So it is interesting that Google followed this advice
And their platform is only worth the present value of a decaying series of cashflows. They have to continue to scale faster than the erosion or growth becomes decline. Yet their valuation seems to assume this game can continue forever.