Dare to anyone to justify $1bn valuation with numbers, page-111

You're right no one cares about valuations anymore. The historical low interest rates are here to stay for a while yet. When it's cheap to borrow money, it's easier to grow a company and hence the inflated valuations on companies. Look at astronomical rise of afterpay and it's wider cohort of BNPL companies. Look at Nanosonics, Appen, xro etc. It's very high PE. Though high quality companies but are not deserving of the premium they are trading on.

But with BRN it's very hard to value a novel tech like Brainchip. But the current price represent a decent risk vs return considering I can see brainchip operating a similar subscription service with the spike net software, akin to Altium for example in the distant future. With brainchip though it's use cases are the real appeal to me with a massive market opportunity.