alt Hacker NewsI think "winning" means being able to live up to their valuations. The market is not big enough for all of these companies to be worth as much as they claim. In that sense they must "win" or experience massive downward adjustment in their values.
I think "winning" means being able to live up to their valuations. The market is not big enough for all of these companies to be worth as much as they claim. In that sense they must "win" or experience massive downward adjustment in their values.
So “winning” could mean everyone experiences massive downward adjustment, but your valuation is still highest?