I wonder if it is just in general market pumping up valuations. If everyone is highly valuing all companies, it means all companies are more valuable. Thus when

I wonder if it is just in general market pumping up valuations. If everyone is highly valuing all companies, it means all companies are more valuable. Thus when they are flipped everyone makes more money. So it makes sense for everyone to push up valuation number as anything they have stakes in will also seem more valuable...