Facebook paid 1.1 billion for a company that had a book value of 85 million, are they stupid? The difference is all about qualitative value, it's all about the relationship that Instagram created with the customer base. And with the classic quantitative and classic NBA tools, you can't explore this type of value. You need design taking because as you start touching qualitative value, you get, I don't know, like hit by a track of ambiguity and things that you can't really understand.

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