[danielvf]

Market cap doesn't equal what people have purchased.

See this classic from 2015:

https://medium.com/signal-v-noise/press-release-basecamp-val...

[0cf8612b2e1e]

  In order to determine the valuation of companies, Bhatnagar typically applies the following formula: [(Twitter followers x Facebook fans) + (# of employees x 1000)] x (total likes + daily page views) + (monthly burn rate x Google’s stock price)-squared and then doubles if it they’re mobile first or if the CEO has run a business into the ground before.

Beautiful.

[rambambram]

I remember this one! Already 10 years ago, wow.