You’re partially correct. Large firms are less risky so they have easier access to credit. Smaller firms have a higher percentage of their value tied up in th

You’re partially correct. Large firms are less risky so they have easier access to credit. Smaller firms have a higher percentage of their value tied up in the future, so they get a bigger future value than the startup. (Safeway’s profits today will be within a few X of their profits in 2029. Slack’s could be 50X.)