I'd suggest the valuations are based on perceived value by the investors. That's how we get insane valuations of $15 billion for Facebook when they were hemorrh

I'd suggest the valuations are based on perceived value by the investors. That's how we get insane valuations of $15 billion for Facebook when they were hemorrhaging money (not the case now of course). Either way, I suspect its part voodoo and part negotiations when you're talking about speculative valuations like this