Neeraj Khemlani

Because if you say it's trading at 40 times or 60 times for earnings, it's like, I don't care.

It's earning $2 today.

I think it's going to earn $50 in 2042.

Like, how do you think about the earnings trajectory in the current valuation?

So one of the hundred beggars is Amazon.

And Amazon reported today, and what these companies are able to do is unlike anything we've ever seen at this scale.

So Andy Jassy said, we're reporting $181 billion in revenue, up 17% year-over-year.

For the quarter.

But you mentioned, Niraj, how hard it is for these big companies to continue to grow.

He said, starting with AWS growth,

Growth continued to accelerate up 20% year over year.

The fastest growth rate in 15 quarters.

AWS is now a $150 billion annualized revenue run rate business.

It's very unusual.

This is a quote.

It's very unusual for a business to grow this fast on a base this large.

And the last time we saw growth at this clip, AWS was roughly half the size.

Unbelievable.

Is this the classic 100-bagger, founder-led, B2B?

They think it means what goes up must come down.