People are always saying stuff like this and I don’t think they understand, if you wait for a stock price to reach a smaller multiple of revenue, you’re probably too late to the party to make any big gains, and it will be no better than throwing your money into some ETF. AMZN used to be what, 3000x revenue? Would you have advised people not to invest in it back then? How would that turn out?

At the end of the day, you can either sit on the side lines and criticize the prices, or you can jump in and make money.