Square has strong growth and a proven revenue model and still [just] got a multiple of [16x]
--worth putting this in context: 16x is 1.6x of 10x
http://abovethecrowd.com/2011/05/24/all-revenue-is-not-creat...
Square is also facing:
-- Massive entrenched competition, that is highly profitable; -- A politically shielded oligopoly with global political reach
Unlike FB, twitter, etc which are genuinely new ideas to which that have had unique first mover advantages.