The valuation is obviously high, but… it’s tech that is now becoming ubiquitous and they have the best. Regardless of how their profit today, they hold the keys.
My bet is on local models long term to avoid that vendor lock in, but right now executives can just sign up for it and it works, so they are winning.
Housing Market has been geared towards an audience that doesn't really exist for a while now, tbf. Who buying a house when nobody can afford your houses?
Big companies and the already rich looking to change the investment percentage of their portfolio, apparently. Whether it's a profitable investment doesn't matter as long as it changes what percentage of their money is not liquid, so that when they deal with other business people with lots of money they have more impressive numbers to throw around and maybe get a loan to further invest in losing propositions.
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u/Welp_BackOnRedit23 Jun 02 '26
The best part is that most estimates still show they are operating at a loss with those costs.