there is no way I’d value apt on a pe of 10 - I’d use at least...

there is no way I’d value apt on a pe of 10 - I’d use at least 50 more likely 100 during its rapid growth phase.

its incredibly difficult for most people to value a company that realistically can grow revenue at 2x each year over the next say 3 years.

i value it (not saying this is right, just my way) at approx underlying sales, eg if the current run rate is 9B then 9B MC. I think I remember polar bear saying he did roughly this way too. It also correlates loosely with pay pal MC valuation.

whether you value this at fwd or trailing revenue means I roughly value it between $20 and $40 sp at the moment, and I don’t want to be accused of ramping but based on these assumptions over the next 2 years i think it will reach $60 (dec 2020) and $120 (dec 2021)
at least it won’t take long to find out

when the co is more mature, say 10 years it will probably imo settle down into a roughly 30 p/e like visa/mc.