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The exchange's new rules stopped short of requiring options to be treated as expenses because, according to reports, of a disagreement over what valuation method should be used.
"What valuation model is going to be used, and who are the gatekeepers going to be to make sure this N.A.V. is accurate?" Mr. McTiernan said, referring to the net asset value.
Whether it will ever generate profits equivalent to $8bn in today's money (as that's what "valuation" means with shares, strictly) is another question, but the company says that it is seeing "exceptionally high engagement rates" from its users and Costolo said that, based on that, "we're ready to expand this further".
At what valuation will you be able to do it?
Mr. ARRINGTON: Ron, you've invested in Google in what valuation?
It's not clear what valuation Fosun has discussed with Flipkart.
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What valuations may not take into account, he added, is the long-term "tailwind" of an aging population that will require more medical care in years to come.
You got in at what valuations here?
We're now seeing more sensible valuations, with Series As being priced more in line with what valuations looked like in 2010 than in 2015.
When I consider that AIG's financial products unit wrote protection on $400 billion worth of assets when its parent's assets footed to $200 billion, the words "fraudulent conveyance" light up in my mind like neon, especially when one considers where and at what valuations those bailout funds have gone (foreign banks, Goldman Sachs).
It preaches that stocks are always a buy, no matter what valuations, as they do better than other asset classes in the long run, and that a 7% real rate of return is a birthright for stock investors no matter if the stock market is extremely cheap or ridiculously expensive.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com