Big Blue Snowed In

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Stroll down the main street of your town (OK, you can’t, but just pretend) and ask 100 random people to tell you about Snowflake and its business. I suspect, in round numbers, the number of people who could do so would be zero. And yet, here we have it, this unknown upstart now has a market cap……..

……..greater than one of the best-known corporations on the planet, International Business Machines:

Wow, Snowflake must be making a fortune, right? Of course not. They’ve never seen a profit in their lives. And their revenues……..

………are dwarfed by the aforementioned IBM by a ratio of 1-to-300.

And yet people are still jumping into this market with both feet. Inconceivable.