> but the author completely brushed off the entire reason why investors are valuing it at $17 billion. The investors "value" it at $17 billion because there i

> but the author completely brushed off the entire reason why investors are valuing it at $17 billion. The investors "value" it at $17 billion because there is a remarkable lack of investment opportunities in general, and an unremarkable lack of investment opportunities with the payoff potential that modern investors are chasing. If everyone wants to strike it rich and become the next billionaire (or, if you're already a billionaire, then a multi-billionaire), you'll invest absurd amounts of money into whatever you can find. Mundane opportunities might take decades to double your wealth, if not more. And what else are you going to do, spend it? This doesn't just mean that bizarre concepts that aren't worth anything soon get obscene valuations, it means more modestly smart ideas get obscene valuations too, supposing their true worth is as of yet undetermined. Too much money to invest, not enough opportunities = weird shit.