by betsharks0
They need to ~10x sales to ever grow into their valuation. But at the current dilution that’s not enough, as share count doubles every 10ys at current pace. Palantir needs to 20x sales over 10ys for an IRR of 0. also think I’m very kind with 8.7x sales as a steady state valuation. Without growth, they’d need some 40% net margins to justify that, but actually net margins are just 10%-20%. Deserving a price-sales of just 4x at scale at best. Perhaps just 2x sales at 10% margins.