Valuation conversations always remind me of something George Carlin once said: "ever notice that everyone who drives slower than you is an asshole, but everyone

Valuation conversations always remind me of something George Carlin once said: "ever notice that everyone who drives slower than you is an asshole, but everyone who drives faster than you is a maniac?" I call it the Water Level Theory. It is that subconscious assumption that our personal thresholds for risk tolerance and boundaries of acceptability are the standard, and everything else is classified accordingly. It is in a similar vein to the notion of "one man's trash is another man's treasure." As for Snapchat, I hope they're worth $4 billion. It gives me hope for my dozen or so crazy ideas being worth only a few hundred million each. :-)