Imran Khan

So the conversation got really heated and I was literally thrown out. A year later, Google went up, I don't know, I forgot, 100% or so, and those guys were fired from BlackRock. But the whole true story is that was the debate, that we didn't know how big the market is and why they're spending so much money on CapEx.

So the conversation got really heated and I was literally thrown out. A year later, Google went up, I don't know, I forgot, 100% or so, and those guys were fired from BlackRock. But the whole true story is that was the debate, that we didn't know how big the market is and why they're spending so much money on CapEx.

So the conversation got really heated and I was literally thrown out. A year later, Google went up, I don't know, I forgot, 100% or so, and those guys were fired from BlackRock. But the whole true story is that was the debate, that we didn't know how big the market is and why they're spending so much money on CapEx.

But the reality is the business had a very, very high gross margins and contribution margins were very, very high.

But the reality is the business had a very, very high gross margins and contribution margins were very, very high.

But the reality is the business had a very, very high gross margins and contribution margins were very, very high.

So I think the reason you give revenue margins, and I think revenue multiple, and I think that it's totally fair to look at SaaS business that way, because SaaS business, many of the SaaS business has very high gross margins, and they have a very, very high profit margins at a steady state basis. So you can predict the cash flow based on the contractual revenue.

So I think the reason you give revenue margins, and I think revenue multiple, and I think that it's totally fair to look at SaaS business that way, because SaaS business, many of the SaaS business has very high gross margins, and they have a very, very high profit margins at a steady state basis. So you can predict the cash flow based on the contractual revenue.

So I think the reason you give revenue margins, and I think revenue multiple, and I think that it's totally fair to look at SaaS business that way, because SaaS business, many of the SaaS business has very high gross margins, and they have a very, very high profit margins at a steady state basis. So you can predict the cash flow based on the contractual revenue.

So unless there's a disruptive software comes out, it makes sense to a revenue multiple. But a delivery company or a consumer company giving revenue multiple doesn't make a lot of sense.

So unless there's a disruptive software comes out, it makes sense to a revenue multiple. But a delivery company or a consumer company giving revenue multiple doesn't make a lot of sense.

So unless there's a disruptive software comes out, it makes sense to a revenue multiple. But a delivery company or a consumer company giving revenue multiple doesn't make a lot of sense.

So first of all, staying with the theme, I think it was the right thing for those guys to go public. Because number one, I think if you ask them, they will tell the company became stronger because they were a public company and they adopted their business many way. I don't think the margins that Box and Dropbox is generating, if they could have generated, if they would just stayed private.

So first of all, staying with the theme, I think it was the right thing for those guys to go public. Because number one, I think if you ask them, they will tell the company became stronger because they were a public company and they adopted their business many way. I don't think the margins that Box and Dropbox is generating, if they could have generated, if they would just stayed private.

So first of all, staying with the theme, I think it was the right thing for those guys to go public. Because number one, I think if you ask them, they will tell the company became stronger because they were a public company and they adopted their business many way. I don't think the margins that Box and Dropbox is generating, if they could have generated, if they would just stayed private.

Because the growth was slowing, they were forced to look at the business and run the business better. There is absolutely nothing wrong with a business that's growing slower. Probably the market size is small. Not everything is going to be Google and Facebook. That's totally okay.

Because the growth was slowing, they were forced to look at the business and run the business better. There is absolutely nothing wrong with a business that's growing slower. Probably the market size is small. Not everything is going to be Google and Facebook. That's totally okay.

Because the growth was slowing, they were forced to look at the business and run the business better. There is absolutely nothing wrong with a business that's growing slower. Probably the market size is small. Not everything is going to be Google and Facebook. That's totally okay.

But if you have a business that is growing slower, relatively steady, I think you should focus on improving your margins, be more cautious on cost, drive more efficiency in the businesses, return capital to the investors. If you are generating profit and you can deploy the capital, you should return capital to the shareholders.

But if you have a business that is growing slower, relatively steady, I think you should focus on improving your margins, be more cautious on cost, drive more efficiency in the businesses, return capital to the investors. If you are generating profit and you can deploy the capital, you should return capital to the shareholders.