RE:What Kevin O'Leary said is worrisome
Even if that is true, you have to remember, its a double edge sword. Lower multiples will make acquisition cheaper as well which would mean even better bargins for shareholders in terms of free cash flow generation and in turn means faster debt payment.
My personal opinion is that O'Leary is not a reputable investor but more of a media personality. I would take what he says with a grain of salt. Things are always over-hyped when the election season is on and companies that show strong growth / cash flow generation will be rewarded as such.