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Others have explained it in more detail but these valuations are distorted because the newly issued securities usually have higher seniority and liquidation pre
by foobarqux 12y ago
Others have explained it in more detail but these valuations are distorted because the newly issued securities usually have higher seniority and liquidation preference compared to those previously issued.
- brunooo 12y agoAnd often it's convertibles or outright debt, senior to any equity. So the question for those pretty smart investors who have trouble finding good places for their money is not if AirBnB is or will be worth 20B, but rather 1-2 billion.