Investors are crazy if they don’t believe there is more air to come out of the Everything Bubble.
- With Infrastructure Software companies like SNOW trading at 22x forward Revenue..
- With Analytics Services companies like PLTR trading at 8x forward Revenue and 34x Adj. EBITDA..
- With companies like COIN trading at 5x trailing Revenue (who knows what COIN Revenue will look like in 2023 – likely significantly lower than 2022)..
- With Bitcoin having a market cap of $444 billion – it is clear that certain investors are working hard to keep the bubble afloat. 2023 will be as ugly for equities as was 2022.