$100M valuation means ”we have four founders with PhDs from MIT, and our product uses both blockchain and ML”. Valuations are almost meaningless nowadays, with liquidation preferences and other tricks.
This. Random useless blockchain projects have valuations in billions on paper these days. The only think that matters is how much revenue your company is doing, valuations are completely random based on buzzwords these days.
One of you is saying that valuations are meaningless because companies will accept punishing terms in exchange for a face-saving valuation. The other is saying that valuations are meaningless because investors are dumb and will throw money at buzzwords.
So which is it? Are valuations meaningless because it's too hard to raise money, or too easy?
And as a follow-up question: how does this contribute to the conversation about "heavy hitters"?
