I know nothing about NET other than the 30seconds I just spent looking at their financials - they managed to triple their revenue over three years but they seemed to have managed to about triple their losses over the same time period and they trade at ~30x sales, MSFT is ~11x, guess people believe they’ll be earning a ~$2b/year in the next several years?
That startup math worked out fine until a few months ago.
The common wisdom was tech companies can always fire personnel when they will want to become profitable and until then increasing expense to get more market share is the thing to do.
It's not completely baseless but obviously we now know too many companies rode this momentum and built businesses that might be unsustainable. We will see.
