Alex, you realise that afterpay was (is?) a loss making business...

Alex, you realise that afterpay was (is?) a loss making business (and a BIG loss making business) but Block still bought them out for $39b? Above is their cashflow depicted annually. Continuously negative since coming into existence. How did they justify a $39b market cap?

Are you aware WHC made $1.2b in just 3 months last quarter? How does that not justify a multi billion dollar market cap? I don't think you understand the fundamentals of trading. If they made $1.2b and the company was valued at less than a billion, then every 3 months you would get paid more in dividends than you bought the stock for. You would literally be given more money that you bought the stock for every 3 months. Which would never happen because people would want the stock more, buy more of it and it's price would go up (hence a multi billion dollar market cap).

Many of the businesses you probably love are similar. Tesla and the likes have all had a long period where it's business was loss making or only making money due to exchange rates or other investments (i.e. Tesla selling btc).

If you look at liontown (lithium) they are valued about the same as WHC but they have never, ever, ever turned a profit. They actually made roughly negative $1b this past year. Not saying they are a bad investment btw.

What I am trying to say is you can't just cherry pick 1 year of annual earnings from 8 years ago to justify your terrible commentary today. It's like saying chevron doesn't deserve to have a multi billion mkt cap because a couple years ago the oil price went negative on futures.

Despite all the above, I am beginning to suspect you are not just ignorant but more likely a troll.