I found this section astonishing: > But not every startup is grossly overvalued. For example, researchers found Uber Technologies Inc. has only one instance of

I found this section astonishing: > But not every startup is grossly overvalued. For example, researchers found Uber Technologies Inc. has only one instance of a liquidation preference. The study said Uber’s valuation of $69 billion is only 12 percent higher than the fair value approximation. Even at the lower estimate, Uber would still be the world’s most valuable tech startup. That definitely will incentivize the current investors to make sure Uber survives. Didn't realize this. It's also astonishing, because hitting that valuation didn't they essentially take a lot of the "investment" structured as loans? [1][2] [1] https://www.theverge.com/2016/6/14/11936316/uber-leveraged-loan-two-billion-valuation-travis-kalanick https://www.theverge.com/2016/6/14/11936316/uber-leveraged-l... [2] https://www.wallstreetoasis.com/forums/uber-last-35b-raise-debt-disguised-as-equity-technical-disc https://www.wallstreetoasis.com/forums/uber-last-35b-raise-d...