Why Did Values Continue to Go Up Only?

The Fed funds rate was still at zero and they were still printing money. So why did valuations continue to go up only? It was like, well, if you like plug it in, basic like discount cash flow equation with negative cost of capital, the theoretical value of any asset on the planet is like infinity. Just keep borrowing and buying. That's why you got, you know, fucking monkey j, rock jpeg selling for $6 million or whatever it was. Like, right. We can raise more money. We can borrow more money. It's fine. We'll figure out how to monetize in the future. But money's no longer free.