This article is brought to you by a Russian Telegram channel "Antihype on money," an analytical channel about all economic hype trends and their triggers.
What happened: Investor's interest is increasingly flowing into the intangible area. The companies that have added the most profits over the last five years are mostly producing impressions, not the product. This opens up potentially unlimited business scalability opportunities. Today such corporations as Netflix, Apple (with its recently launched TV+) are at the beginning of the road, and their current client base is just the top of the mountain of the potential number of customers.
What really happened: The situation reminds the dot-com fever in the late 90s. Back then, investors were afraid of missing out on the opportunity to invest in companies that were going to change the Internet once and for all. Often, they did not have any working business strategy or profit prospects in the foreseeable future. The same return to reality can happen with the area of impressions. At some point, investors start asking “where is the money?” and then the bubble begins to collapse quickly. Often this question pops up at the final stages of economic growth. If the current situation is not the same case, then, potentially it's the question of the coming years.
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