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All-In with Chamath, Jason, Sacks & Friedberg
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The Gamble of Stock Valuation
This chapter explores the high valuation of a particular stock with a trading ratio of 192 times EBITDA despite falling revenues, comparing modern trading to gambling. The conversation highlights the speculative nature of investing, the responsibilities of companies and investors, and the regulatory challenges in protecting market participants. It raises questions about the efficacy of current regulations and individual accountability amid the evolving dynamics of capital markets.
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