> So SpaceX is buying 15 years of future cashflows, assuming no change in revenue. Which is bad assumption given past growth was gigantic.
I'd argue it's a bad assumption in the opposite direction. There's no moat. People can and will switch tooling and Cursor could easily be left with a steep decline in users.
I'd argue it's a bad assumption in the opposite direction. There's no moat. People can and will switch tooling and Cursor could easily be left with a steep decline in users.