Obviously I'm just expressing my personal opinion. If you ever trade public equities you're betting your money that you can value a company more effectively tha

Obviously I'm just expressing my personal opinion. If you ever trade public equities you're betting your money that you can value a company more effectively than the analysts and institutional investors that hold any opposing outlook. People gut check valuations of all sorts of things all the time and are often correct. You don't need to manage a REIT or be a builder to know the odds are that 2br split level isn't worth $20M. Watching from the inside while a company takes three rounds totaling $260M, values at a billion plus, and then gets sold for $10M while the furniture is being liquidated, all in the space of a few years tends to make you skeptical of tech VC driven valuations.