> If you were to tell a non-HNer that Kayak, Booking, Priceline, CheapFlights, OpenTable, and other large websites are worth 100B combined, I don't think they would even blink an eye.
Really? I think most people would be shocked.
> It's clear that HN (and techies as a whole, I assume) highly discounts the value of users, marketing, brand, and distribution.
That isn't what give pcln "value". The value is just a reflection of the boom stock market and a handful of hedge funds/etc bidding up the price of the stock.
Once the recession starts and a few of the hedge funds decide to cash out, the "value" could shrink considerably.
Really? I think most people would be shocked.
> It's clear that HN (and techies as a whole, I assume) highly discounts the value of users, marketing, brand, and distribution.
That isn't what give pcln "value". The value is just a reflection of the boom stock market and a handful of hedge funds/etc bidding up the price of the stock.
Once the recession starts and a few of the hedge funds decide to cash out, the "value" could shrink considerably.