Other firms who think that the price is too high could simply.... not invest in those companies. I am not sure what is confusing about this. If a company is t

Other firms who think that the price is too high could simply.... not invest in those companies. I am not sure what is confusing about this. If a company is too expensive, the qualified investors who are spending their investment dollars are free to not buy equity in those too expensive companies. They manage billions of dollars! I am sure they can figure out how much a company is actually valued! They aren't going to be "tricked" by some valuation scheme that randos are pointing out in HN comments.