Are software companies good businesses?

We’re back to talking about profitability.
A technology-finance podcast recently talked about software company valuations, the impact of interest rates, and just how profitable well-known tech companies can become.
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Riffing off a chart that showed the inverse relationship between rising interest rates and tech company revenue multiples, investor Chamath Palihapitiya said something interesting:
I think this chart is not that helpful, because this is all

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