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If you consider creatively obscured financials, negligible operating costs, potentially useful IP, and a hoard of cash spent on acquiring customers, you can see the path that leads to an amazing valuation. It's the sort of thing that the investment bankers behind IPOs love to sell to their well-off clients who, like the original private investors, will usually quickly get in and out of the stock before the ink has dried on the certificates. The key is to make this happen before governments trip it up, its patents get denied, users are too freaked out about their privacy, and/or there emerge viable new and unanticipated approaches to offering the same service, only better.