Is it just me or has money like this lost it's appeal and value? A billion dollars used to be unthinkable, now it's just some number. Companies valued at X doesn't even raise an eyebrow for me. It's like were playing with Monopoly money.

It’s because they’re playing with monopoly money. If you leverage all the money on itself repeatedly, you can make the numbers look insane. Then, you hand pieces of the leveraged money (stock options) to a bunch of executives who will be watched very closely. You don’t sell stock that’s going to go up in value, so they have to be very careful about when and how much they sell. If they sell too much, then the facade can break, and the leverage evaporates.

To be clear, there is real, underlying value & revenue. But there’s a lot of froth right now