[vslira]

According to the article itself, ARR’s definition is clear and strict: annual and recurring. This means that “margin” doesn’t factor in, so I don’t think calling these AI companies’ revenue GMV is all that sensible either.

I do agree the market is eager to conflate run rate and arr, though

[nerdsniper]

They called “GMV” - “gross merchandise value” which isn’t inherently “marginal” but still is fairly nonsensical.