[CharlesDodgson]

As a non-expert in the specific industry, but a tech person who reads S-1s with interest, I like the look of Cloudflare. It is providing a global infrastructure product and clearly building something that other companies will use and integrate in way that makes it sticky to leave.

I can't remember who said it, but I definitely subscribe to the idea that cloud providers are essentially a tax on businesses that use the internet to drive their business.That makes CF attractive.

My feeling is that the risk that will affect it in the long run are macro: global downturns, over reliance on a specific sector, regulation, freezing out of markets due to unfair competition from local players and spikes in energy costs (curious why this wasn't mentioned in the S-1 specifically)

They also have no outlined plan for the capital they will raise, this may be a good sign, no bold bets, just keep the marketing spend going and achieve greater scale.

It's getting harder and harder to judge if something is a good bet these days. Nobody is actually making a profit, the dual stock structure is troublesome, and the access to capital feels too easy. Ir frustrates me that it's impossible (for a mere mortal with €500 a year to invest) to get in at an early stage when you can watch the value rise and feel a connection with the company.