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You are seeing founders turning down multi-billion dollar acquisition offers for startups that hadn't even released a
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product yet as if those types of offers grow on trees and they don't. You think uh Mirror should have taken
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the billion dollar offer from Zach or Ilia should have taken the 30 billion sacks? I mean these things never happen.
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I guess it depends how much they have in the bank account. They're both open AI co-founders. So
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they probably sold a bunch of OpenAI equity at 300 and 500 billion. They seem like they're free rolling. So they have
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no incentive to sell, which is fine. It's just that there's a lot of people who've never been through
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a bus cycle before and if they think that this is the normal state of the world, they're going to be sorely
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mistaken. Right now, we're in a part of the cycle where you can justify that valuation based on its strategic value
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to a multi-t trillion dollar market cap company, but that only lasts while those
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companies are in the market for strategic acceleration. And if you turn that down, then you have to make your
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company work on its own as an actual business. And to get to a $30 billion valuation based on fundamentals, that is
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extraordinarily difficult.