Trillion Dollar Market Caps: Fairy Tale Pricing or Business Marvels?
Aswath Damodaranaswathdamodaran.substack.com
Trillion Dollar Market Caps: Fairy Tale Pricing or Business Marvels?
The Rising Importance of the Great Art of Storytelling - Above the Crowd
Bill Gurleyabovethecrowd.com
the power of imagination and optimism is an amazing and essential part of innovation. But over the years, we’ve become so enamored with the unicorn valuation as the goal, that we started valuing the wrong things and overlooking the fundamental physics of business.
With capital at zero cost, growth at all costs became the mantra. How fast can you... See more
With capital at zero cost, growth at all costs became the mantra. How fast can you... See more
Where does VC go from here?
Slack is already a top quartile SaaS company trading like a bottom quartile SaaS company because of that age-old worry that “Microsoft will just crush it.”
Packy McCormick • Slack: The Bulls are typing...
How to spot tiered rounds:
When you see a valuation that seems disconnected from reality and the round size seems small relative to that valuation, it was almost certainly tiered. A good litmus test is 10% ownership.
$50M raised at a $1B valuation. That’s 5% ownership. No lead fund would accept that. The round was structured with multiple prices.
If... See more
When you see a valuation that seems disconnected from reality and the round size seems small relative to that valuation, it was almost certainly tiered. A good litmus test is 10% ownership.
$50M raised at a $1B valuation. That’s 5% ownership. No lead fund would accept that. The round was structured with multiple prices.
If... See more
Liar's Valuation
the power of imagination and optimism is an amazing and essential part of innovation. But over the years, we’ve become so enamored with the unicorn valuation as the goal, that we started valuing the wrong things and overlooking the fundamental physics of business.