Subject: Re: Hypergrowth valuation
One of such stocks is that of Datadog, which I've been eyeing for some time and in which I finally took a small position this morning as a sort of Christmas present to DW and myself--or perhaps to our heirs. We'll see how things develop

Great post. These exciting firms that are priced for relatively distant future earnings, that are much larger than the present, have even *more* importance placed on the durability of their sales - that is, subscription customer retention, compared to firms accumulating much more equity per dollar invested, such as when buying a bridge yielding 8%.

We need to look out 20 or more years (but start with imagining 20) with these SaaS firms of given their high very price to sales ratios (even with such high margins) to have a good return relative to the quote today, thus we have a *heavier* burden of proof regarding exceptionally strong cases/reasons for sales durability.

Could you give your insights as to why DataDog will reasonably certainly retain customers without a competitive technology taking sales after year 7 or year 13 for example.

And what other insights do you que that make this the SaaS firm to own? Thank you!

- Manlobbi