Valuation Dilemmas

The conversation dives into the complexities of tech investing, highlighting the tension between traditional valuation methods and the disruptive potential of emerging technologies. Masa's early hesitation with Facebook contrasts sharply with his bold investment in Bytedance, illustrating the unpredictable nature of the market. As the discussion unfolds, it becomes clear that in transformational sectors, conventional metrics often take a backseat to visionary thinking.