“Would take decades to match the purchase price”: That’s typically because such stock is on a very good growth trajectory, so you paying a high multiple is part

“Would take decades to match the purchase price”: That’s typically because such stock is on a very good growth trajectory, so you paying a high multiple is part of the risk you are taking. Or, are you genuinely thinking that a business like Facebook should be valued at a 5X multiple just like your small one-person SaaS project would likely be valued if you were to put it on the market? The risk with Facebook is much lower, hence it commands a much higher multiple.