Buy low is contingent on sell high. Reaching sell high requires funding to live long enough for an exit. Constantly saying "there is no bubble" helps investor

Buy low is contingent on sell high. Reaching sell high requires funding to live long enough for an exit. Constantly saying "there is no bubble" helps investors feel better about a three month old company claiming a $10MM+ valuation. "No bubble" also helps acquirers justify paying > $20MM for three guys sitting in their underwear typing on a computer for a few years. (disclaimer tags: conspiracy, not aligned with reality, condescending, wrong numbers.)