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E73: Late-stage VC markdowns and mistakes, market strategy, Ukraine/Russia update with Brad Gerstner
All-In with Chamath, Jason, Sacks & Friedberg
Snowflakes Multiple Is Plummeting
Public market multiples are down rist premium to change, inflation change. But they have plenty of cash on the balance sheet. Snowflake this year will grow its free cash flow at over a hundred % a year. And so now if you look at the multiple, it's similar to what we'd expect of a regression of the five year anal.Unless these companies want to go dark for the next three to five years, meaning no sophisticated, lay stage investor doing around or going public, they'll be ok. Otherwise they're going to have to reckon with a version of what brad just said, which is the high, the flight to quality problem.
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