The Google Debate And Why Ads Rule Everything Around Me

I won’t bury the disclosure, I own GOOG with a cost basis of $198 which I believe at time or purchase was in the 24 to 25x trailing earnings. So read this as someone with a biased long, and not wanting to pay Uncle Sam their “fair share” of my capital gains and grappling with the buy, sell, hold dilemma.

And before proceeding, know that I love what a dear friend of mine once called, constructive combat. Read as, dissenting with a friend or debating without malice. Or put another way, the timeless art of civil disagreement.

So Kim’s piece to me was interesting and the argument, if I’m understanding it, was a secular short based on culture. Kim will likely forget more about model architecture than I’ll ever learn; make no mistake the technology lane is his and he’s sharp in it. And I owe Tae a beer for writing The Nvidia Way, because I thought it was awesome. My lens however is simpler, I’m an investor first. What does a business earn on the capital it reinvests and what are you paying for it. Simpler in some ways, but harder for sure.

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