Hello HN! One thing early stage founders always ask is what the “fair” valuation is for their startup.<p>After years of doing this, the truth is that early stage valuations are more about negotiation, what’s market for other startups and what ownership percentage your investors want to achieve than they are about your business.<p>Once you realize they are fake, you realize the way to drive valuation is only to create a competitive market for your startups equity, by getting many investors to the table.