Is it right to compare it to a stock though? It's not intending to be a company, if the team fulfil their vision it will be much more than that. I agree that in many senses it's overvalued considering it doesn't have a working platform yet, but investors are taking a risk based on potential, and the quality of Dan's previous projects
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Sure, the comparison with stocks is just to give one/some perspective. It's obviously tricky to compare these things with anything that's come before.