[bane]

Max earnings growth is almost impossible to predict with any kind of accuracy. The analysis is basically # of PoS on the planet * avg. current earnings per PoS and that becomes some mythological possible upper bound, or some other nonsensical analysis. Even if they're doubling earnings every year, exponential growth never lasts, yet valuations will reflect some kind of continuous exponential growth into infinity.

The point is, even if Square hit some kind of real P/E that made them a $6bil company, they wouldn't be doing anything nearly as impressive or substantial as actual companies who are today worth $6bil.