Hi Andrew,
A cross MF forum thread had referenced an article that mentions briefly about Zoom’s valuation. The author appears to be a portfolio manager and seems to make some very good points in his article. However, I’m not knowledgeable enough to critique his points.
While I hesitated to share this article as it might be OT, I feel it may give some balancing perspectives and perhaps avoid any potential herd mentality (if there was one).
Forewarning: The author is bearish on the current multiples given to growth stocks and the article is a bit lengthy (took me ~45 minutes to read it).
The article is linked to another article that discusses liquidity flywheels, which I found quite interesting.
Sources:
https://lt3000.blogspot.com/2020/11/unravelling-values-decad…
https://lt3000.blogspot.com/2020/07/market-inefficiency-liqu…
https://www.linkedin.com/in/lyall-taylor-b934787a/?originalS…