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Thats the only measure of real profitability - GAAP.

Free cash flow includes stock based compensation. Thats a real expanse and turns negative cashflow to positive. But it dilutes existing shareholders, you would like to see positive cashflow EXCLUDING stock based compensation

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If GAAP is the only measure, then Amazon and Salesforce have been utter failures for 20+ years, only returning 120,000% and 4000% returns to shareholders.

In fact, if an investor went by GAAP, he would have missed the entire massive SaaS boom of the past decade.

Did i say these companies were failures? I simply said they were not profitable.

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