I think this analysis gets it just about right.
But for investors, it’s all beside the point. Of course it will decline eventually. The question is “just how many $ can be milked out of it before it does?”
And that’s an open question.
As is how much will the hysteria about it pump its stock price after the IPO (if at all)?
Those questions aside, there are some more obvious observations to be made.
1) That there are so many people who can afford such excesses speaks volumes about the level of economic devlopment most of us currently enjoy. We’re a far cry from worrying where our next meal is coming from. And by extension - coincidentally, a far cry from any degree of political revolution.
2) Advertising, as old as it is, continues to pay the bills for the media we consume.
Getting in at the initial offering price will be next to impossible. By the time you get in the boom will be headed to bust as everyone tries to make their $$.