Why do we use non-gaap P&Ls for growth software? Assuming it's just the SBC, why do we want to adjust this out? Isn't it a real expense?
Even if it's not a "cash" expense, why do we adjust this out?
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And besides, what's going to happen to all these tech companies that issued mega options at their 52-week high water mark, there is effectively zero retention benefit to those since tech labor markets are still fairly tight. Do they have to reissue options to sufficiently retain people?
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