The market is scorching, hot wich start ups across all growth stages getting funded faster and at higher valuations. When there is a large number of meaningful exits, from ober to airbeamb to coin base, investors get enthusiastic about investing in the next wave of unicorns. This causes valuations to quickly double and triple with investors reporting the valuation doesn't matter if this becomes the next unicorn. Of course it does matter, since most companies go to zero. And you can invest in three start ups at a ten million dollar valuation for the same price you would pay for one at thirty million.