TLDR
With the pandemic induced havoc, how is that the stock market not down more? And what effect will the economic downturn have on the valuation of startups? This is the first in a trio of articles about expectations, and how uncertainty affects valuations in differently the public and private capital markets. With interest rates so low, investors lack an appealing alternative to stocks, and investors have weak incentive to move money out of the market. Public investors are less valuation-aware than those in the private market. Emotion has more impact on valuation in the public companies than private ones.via the TL;DR App
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