It's pretty valuable to own the customer touch point

Also when people ask questions like this it usually means they're asking questions about a point in time, eg given today's numbers

But valuation should account for trajectory (where will they be in five years?)

In the hypothesized bull case for ai, they benefit dramatically from the secular tailwinds (ie unrelated to their own business strategy) of AI

So one way to consider this is it's a hedge by stripe in case AI becomes as big as some people think it is. And 7b to get in on the ai wave is a good deal in that case. And in all the other cases, it goes to zero and stripe is fine