Private Valuations have always been mad to those who aren’t in the industry (I’m not either but I’m guessing that SOMEWHERE saying that a company like Gusto is worth X when it hasn’t even turned a profit is ‘not mad’?).
I read this on my commute this morning:
Pick a ‘startup’ that is valued in the BILLIONS and most not making a profit. But then valuations, funding etc rarely deal in terms of real cash anyway.