If I buy a corp at 10% net margin for 5x ebidta on 80% leverage, i’ve really paid 1x ebidta. then lets say 20% of revenue was going to R/D and stuff that would only pay off in a few years. I cut all R/D so now its at 30% net margin.

So I can triple my money every year because it’s now generating profits of 3x my original downpayment every year (minus interest payments). After a few years of zero R/D the company has no good products to sell, demand falls, and it’s declared insolvent. Well, I dont care about my 20% equity downpayment because I already got like a 3-9x return. But the debt financers are screwed.

I do wonder if all this extra user data will be of much use. I suppose it could make commerce frictionless, recommending the exact product/service to you at the ideal moment, before you've even heard of it.

But the nature of innovative products and services is that most people don't know how to use them yet, and therefore they can't be recommended based on user data. So idk...