Let's look at it another way.

You own a company that's trading with a P/E of 100x. Investors expect a lofty growth rate to justify that multiple and organic growth only lasts for so long as a market leader. In finance, price-earnings to growth ("PEG") ratios tend to be 1.0 at fair value, meaning a 100x P/E means investor expect 100% annual growth. Your high valuation makes acquisitions easier (assuming your overvalued now, you are buying assets at a discount). And, those acquisitions are perhaps the only way to achieve/maintain those lofty growth rates over the long-term. So, what's stopping you from making those acquisitions when others are in the same boat?