Is it right that they raise $3.5B, projected to burn $3.0B this year with ~$1.2B in revenue _expected_ this year?<p>So either prices are going to rocket up at some point and/or massive efficiencies? That doesn’t seem like a good position. I like their models, but not sure how they’ll survive long term.
I think many people believe this is an absolute bubble, that these valuations do not correspond to fundamental values of the business and are just based on promises and fraud.<p>I don't like having such a black and white view of the world though, so I would be interested in seeing if there is any sane reason for these valuations. Do you think these businesses would be as highly-valued if there was not all this hype around? How would you justify this valuation?