Much of the new billion dollar club is special in that it actually has the kind of revenue and revenue growth to at least sort of justify the valuation. It soun

Much of the new billion dollar club is special in that it actually has the kind of revenue and revenue growth to at least sort of justify the valuation. It sounds like Airbnb, Dropbox, and Square have serious profits with trends suggesting that they'll be even bigger soon. These startups look more like PayPal, which was a 1.5B acquisition where Ebay totally and unsurprisingly got their money's worth, rather than a social site with no revenue. (Did YouTube have any revenue when they were bought? And I think Facebook had ads, but they were still losing money fast when they were offered 1B.) Even though it's looking like YouTube will pan out for Google, it's a lot more obvious that Square has the potential to be worth billions than that YouTube did.