VINDICATION

We went public at a $15 billion valuation. For a card issuing company. If you told VCs in 2010 that card infrastructure would be worth $15 billion, they would have laughed you out of the room. I know because they did.

Moderna was the most hated biotech stock before COVID. No revenue. No products. Billions in losses. Short sellers loved us. Then we made the vaccine that ended the pandemic and became a $100 billion company.

Twenty years later, Chewy does exactly what we tried to do — sell pet supplies online — and it's worth $10 billion. We were right about the market. We were just 15 years too early and $300 million too short.

Record labels told me streaming would destroy the music industry. Global music revenue has more than doubled since Spotify launched. We didn't destroy the industry. We saved it from piracy.

Short sellers said our AI does not work. Thoma Bravo paid $5.3 billion for it. I will let the market decide who was right.

Our stock 5x'd from the IPO low. Everyone who called us a money pit has gone quiet.

Ford lost $4.7 billion on EVs last year. Toyota made record profits on hybrids. The market is the judge.

Singapore told me to be a lawyer. Silicon Valley told me gaming hardware was boring. Razer's market cap told both of them the answer.

I bought an airline for one ringgit. People said I was crazy. Those same people now fly AirAsia.