Since when has a company making poor over-priced decisions ever justified a better valuation? It's the complete opposite. If Airbus decided to pay twice as muc

Since when has a company making poor over-priced decisions ever justified a better valuation? It's the complete opposite. If Airbus decided to pay twice as much for planes would you say they should be valued higher? While there is intangible benefits that come from deciding to setup shop in one of the most expensive cities on Earth I'm far from convinced a messenger app company couldn't thrive elsewhere. What they offer is not unique nor difficult to create. Doubt they'll ever manage to pull in $1B a year to justify that price, the required business model for it would have their customers looking elsewhere overnight.