There are many startups with zero income. If you follow your...

There are many startups with zero income. If you follow your algorithm, the company's valuation should be infinite when it has any income.
Obviously, companies in the same field are not in a race. They are boxing. The one with small strength will lose.If there is no second place in the boxing match, the loser will have nothing, just like the windows phone is eliminated by apple.
As far as I know, APT entered the U.S. market later than SZL, and now APT's market share is much larger than SZL's.