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user-inactivated  ·  3129 days ago  ·  link  ·    ·  parent  ·  post: Uber might be forced to behave like a company, rather than a slave driver

    Keynes straight up said that it doesn't matter what a stock is worth, it's what you can sell it for. In other words, Uber is worth $40B because the consensus is there are enough idiots in the stock market that Uber stock could be sold for $40B.

And this explains how Whatsapp and Snapchat have a stock valuation worth more than the cost of the servers.