34:59—35:39· 40s
3
Mik“binomial binomial option model combined with a multi-factor DCF with variable discount rates looks nice, but having a simple thesis of what matters— it it going to be a winner-take-all market, or is it going to be a table stakes, highly competitive market like a Zoom and a Google Meet and a Teams that could end up being a great product, but a tough business. Those are hard calls to take.”