A fact that will alarm many people but is nonetheless true: startup valuations are bets by professionals that the actual value of the company is significantly higher.
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Why would this alarm anyone?
It's common in the press and on forums to mock startups' valuations.
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Mocking a startup valuation is arrogant It amounts to saying that your uninformed judgement is better than the informed judgement of the VC who wrote the check Better to start wondering what you’re missing
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Damodaran illuminated this for me. More people should watch "It's a pricing not a value game"https://youtu.be/S8VbQwPl86w
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