Although he tries not to, the author seems to make the argument for fundamental analysis here. While he acknowledges that current drivers for the prices of social media companies are based on users and their level of engagement, he essentially concludes by saying that this is a fad.
Basically, some companies are "in fashion" the same way bellbottoms or baggy pants were, and the only way to explain why is to say, "because it's cool... for now."
Basically, some companies are "in fashion" the same way bellbottoms or baggy pants were, and the only way to explain why is to say, "because it's cool... for now."