The v C Industry Is a Narrative, Right?

The v c industry has gone really good at creating this eco system where there's no valuation going on here. What matters is upward trajectory, right? So why are they selling equity when they know that that is just like such expensive cost ofe capital relatives what they should be getting? This could be different. The tec crunches and all the v c mao, web sit. It's a narrative. Wi, the narrative is powerful.