Aidan Donnelly
👤 SpeakerAppearances Over Time
Podcast Appearances
So that's 93 or 94 times sales, right?
We've never had a company come to market at 94 times sales.
I was talking with somebody yesterday and he was kind of saying, look, you know, when you're getting up to those numbers, does it really matter if it's, you know, 40 times sales, 90 times sales, 150 times sales?
He says it's a bit like he said, you know, if you fall out of a building from the 50th floor, does it matter whether it's the 70th floor or the 30th floor that you fall out of, right?
You're gone either way.
You're gone anyway, right?
So that's the kind of the thing when you're looking at it.
So to a large extent, the actual number is irrelevant.
Just the fact that it's a very large number in terms of the valuation.
As I said, it's not making money, it's losing money.
So you can't even value it on a traditional price earnings ratio or anything else like that, right?
So you've got a governance issue, you've got a valuation issue.
And, you know, you look at it and you kind of go, well...
You know, I'm always reminded, you're of an age, same as I am, in that you'll remember, do you remember years ago there was the Kit Kat ad, right?
Where the music producer was sitting on the sofa and he's looking at this band and he looks at them and he goes, you can't sing, you can't dance, you look awful, you'll go a long way, right?
There's a bit like this, OK?
You're kind of saying to yourself, there's no profit, there's crap governance.
I'm not sure about the business model.
Does that mean it won't go up?
No.