You have to compare any growth against a benchmark index which reflects what would’ve happened if the company had simply invested its assets in that index fund instead.
That's nonsensical when they are part of the index driving that growth.
That’s right, e.g. you can’t really choose SPX for any of the top 10 members (AAPL, MSFT, AMZN, NVDA, GOOGL, META, GOOG, TSLA, BRK/B, JPM) but after that it trails off pretty quickly.
Eh, not really, especially with the extremely dangerous weighting of the S&P.
You have to carefully choose the benchmark but you need to benchmark against something.
S&P is up 25% this year.
That says nothing about streaming. Maybe it would have gone up even more if they didn't launch their streaming service.