I totally agree with you :) but I'm going to play devil's advocate and tell you why I think "those" companies do it that way. 1. Getting tons of money helps th

I totally agree with you :) but I'm going to play devil's advocate and tell you why I think "those" companies do it that way. 1. Getting tons of money helps the company grow/scale much faster, and gives them money to market and sell their product 2. Getting a crazy high valuation lets them get that money in #1 from investors without diluting ownership. 3. The valuation in #2 means that in case of an exit (M&A or IPO), the investors get the most returns from their investment. So while it all obviously points at a self-created bubble, it seems to me that all the parties (founders, company, investors) want to do this to grow/exit fastest.