It has been a gold rush for all startups, especially late stage. (see: https://www.economist.com/sites/default/files/images/2021/11/articles/body/20211127_fnc30

It has been a gold rush for all startups, especially late stage. (see: https://www.economist.com/sites/default/files/images/2021/11/articles/body/20211127_fnc308.png https://www.economist.com/sites/default/files/images/2021/11...) I wouldn't use valuations as a signal of traction.