I think it's not quite that simple. In the end run up to a bubble, there's a lot of money floating on big bets. Some of them are going to pay off. Most won't. Maybe Uber will. Maybe it won't. They say future value is priced into a stock, and this is where margin for error is the highest.

I think smart money in Uber recognizes their position as a gamble.

Regularly you hear about hundreds of millions being poured into companies like Uber and self driving tech companies. At least one of those companies is going to win big, and investors don't want to miss out.

Right, but that's not the points that the article made. Article's author proposed that THE reason, (not A reason) for airbnb's high value is because cheap money makes non-physical assets expensive. You're explanation was that cheap money makes for "big bets", and stocks can price the future in.

Your answer is good. I agree. The stock market is Vegas. The stock market fueled by cheap money, is Vegas times a billion.

I find the article lacking. And I'm being polite.

I believe they are making a very risky bet (like VC always do, and when it pays off they get huge reward which cover the other losses).

Their bet is on Uber reaching autonomous taxi service. Without this Uber stands no chance in the long term.

Alternatively, perhaps the big players just don't care. They're about making money NOW, not 2 months or 2 years from now.