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Good Question: ssivark 2 hours ago [–]

Is it even meaningful for a company to be valued at ~$30B if it cannot guarantee survival & stability? In what sense of reality is this a “unicorn”?

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Fed is printing infinite money

So $30 billion is not $30 billion

AirBnB offers the potential of high upside

Do you park your 'free, Feb printed money' in the bank, and then at some point its value is less than it started

Or do you park it in AirBnB or another IPO, where it might go to zero, or it might go ten times

Everywhere IPOs are booming. Because money is being printed and there is nowhere for it to go for a good return

> it’s a dangerously misleading number to anyone who has a large fraction of their personal wealth invested in AirBnB

Nobody rational with a significant amount of their wealth in a $30bn company hasn't already taken some chips off the table. Whether through cash bonuses, loans, tendered shares or secondary sales.

I'm not commenting on the specific valuation, but I think you're looking at their valuation without probabilities priced in.

A $30b valuation is a very rational valuation if you assessed there was a 50% chance of a $0 valuation and a 50% chance of a $60b valuation.

Well, you'd also have to have 100% risk tolerance for that to make sense. Something like 50% chance of 0 and 50% chance of 100 billion might be more realistic for a binary outcome valuation like that.

No company can guarantee this.