20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

1363.896 - 1383.301 Imran Khan

The seller expectation is too high. When a public company is trading 20 to 30 times earnings multiple, they cannot afford to pay out 50 times revenue multiple to buy a company. And then you don't see private to private mergers because all the valuation is messed up, all the cap table is messed up. So you cannot do that either. So that also play a pretty critical role. I get you, but...