Cory Doctorow on Nostr: But once those companies' growth slows down, investors revalue those shares at a much ...

But once those companies' growth slows down, investors revalue those shares at a much lower PE multiplier, which makes individual executives at the company (who are primarily paid in stock) *personally* much poorer, prompting their departure, while simultaneously kneecapping the company's ability to grow through acquisition and hiring, because a company with a falling share price has to buy things with cash, not stock.

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