Here is why: extremely high valuation of a Technology company assumes that the company would keep growing tremendously and would dominate for really, really, really long, long, long time…
Hmmm….
That means it leaves no room to let in any additional disruptors into the economic ecosystem, including its own business.
I.e. simplistically speaking when Big Tech stocks are priced at current multiples, ironically it signals NOT how much disruptive innovation they foretell but the wave of innovation is OVER…..
