Jesus Christ, the Hetzner example is obviously an example of booking revenue as AI revenue (where investors assume it is generated by Grok subscriptions) vs. hardware rental revenue, which traditionally not valued as highly.

Nowhere does the hypothetical state that Hetzner, an example for hardware rental, has the funding or the capabilities to execute the sarcastic example.

But ok, now hardware rentals have a P/E of 100 or more.