I hate to be glib about valuations. There are a few people out there who have done the hard work: http://aswathdamodaran.blogspot.com/2019/04/ubers-coming-out-

I hate to be glib about valuations. There are a few people out there who have done the hard work: http://aswathdamodaran.blogspot.com/2019/04/ubers-coming-out-party-personal.html http://aswathdamodaran.blogspot.com/2019/04/ubers-coming-out... https://www.forbes.com/sites/greatspeculations/2018/02/22/breaking-down-ubers-valuation-an-interactive-analysis/#161fe27e4785 https://www.forbes.com/sites/greatspeculations/2018/02/22/br... And Bloomberg had a good one, though I can't find it now. I am not endorsing any of these, but the difference between a bull and bear (or, if you will, a valuation higher than what we have and lower than what we have) is probably how much you think additional business are worth. So if you think that food delivery, logistics etc will amount to a large, valuable business, I think you are bullish.