The statewide average property tax rate, a measure of local taxes used by the state government, was $2.32 per $100 of valuation in 2000, the last year for which statistics are available.
"They are robbing the people," said Mr. Breda, 58, a landlord whose six-unit apartment building's assessment more than doubled from its valuation in 2003, the last time properties were assessed in Newark.
They are spurred by the sort of breakthrough innovation that saw electric car company, Tesla, see a tenfold increase in stock valuation in the last four years, while General Motors value remained the same.
He's asked Horowitz, "What if we're the most evolved dinosaur, and Naval is a bird?" Already, more than half the tech companies that reached a billion-dollar valuation in the past decade were based outside Silicon Valley.
According to VCs, there's been a 65% decrease in up-rounds (where a company gets a bigger valuation) in the last six months and more than 60% of those polled expect a longer wait for an exit.
Zscaler has reached "unicorn" status, having raised capital at a $1 billion valuation in the past.
He invested in Google at a $75 million valuation in the late 90s, and the company had no revenue and no business model yet.
That deal was a curious one, being that it valued GFG at €1 billion ($1.1 billion), a valuation that is massively down on its previous funding activity when the group raised $167 million at a $3.4 billion valuation in the summer of last year.
Georgiadis' position is a crucial one as the company prepares to IPO at a reported $15 billion dollar valuation in the spring and Groupon CEO Andrew Mason needs a Sheryl Sandberg to his Mark Zuckerberg.
