In my opinion, it would be incredibly foolish if you did not to run some basic valuation calculations to get a sense of potential value. Any investor that doesn’t do that is making decisions about acquiring or selling shares blindly, imho. How else do you arrive at an appropriate value for buying or selling shares post TLD? I provided a basis for my calculations in the post you are referring to, I didn’t simply throw out a pps. Dr. Rago provides a basis for his $20Billion valuation (just for “L”) in his white paper as well. Linked here: