Startup valuations have nothing to do with theory of value. Theory of value, like the marxist labor theory of value are theories about the metaphysical status,

Startup valuations have nothing to do with theory of value. Theory of value, like the marxist labor theory of value are theories about the metaphysical status, origin an mechanisms of value. It is an explanation of value in general not a heuristic people would use to evaluate things. If labor theory is right (and it isn't) the answer of why founders get so much more is because they are exploiting the other guys working there.