Interesting way to think about it: This is equivalent to saying: "If you put 10m$ into us for 20% of the post-money business, anything beyond a 5B$ valuation

Interesting way to think about it: This is equivalent to saying: "If you put 10m$ into us for 20% of the post-money business, anything beyond a 5B$ valuation you don't see any additional profits from" which seems like a high but not implausible cap. I suspect they're also raising more money on better terms which would make the cap further off.