[wrsh07]

It's not a very good point. Yes, obviously margins matter. In tech and startups, growth tends to matter more (often because these are high margin businesses, but also because growth compounds)

Like, yes, Google has 55% margins to Walmart's 24% (and the operating margin gap is similar), but Google is also growing 17% to Walmart's 5%.

Google will _gladly_ take a hit to their margins as they emphasize Cloud revenue because that unlocks growth

SpaceX is leaving enough float, it doesn't matter, indexes are float adjusted anyways, I hate that I have to defend them against bad takes