> You're excused. It's clear that assessing public company valuations is not your area.

Basic business economics doesn't seem to be your area.

Here's a basic example of how you can shoot the "public valuation" of a company into Low Earth Orbit without actually earning a single penny for your operations:

Issue 100 million shares at 0.01 cents per share and go public. That's now a $10k dollar public company. Next, you do an increase in capital stock by selling 1 million additional shares at 0.5 dollars per share to gullible investors.

In order to achieve that, you hire a bunch of credible consultants who support your fundraiser by lending your company their good reputation and who advertise your business. You can pay them from the $500k you got from selling the new 1M shares and you can now call yourself a multi-millionaire, because the initial 100 million shares are now worth $50M on paper, because that's the latest share price.

See how that works and why public valuation based on share value isn't always the most useful tool in assessing a company's finances?

> Current earnings matter little to the valuation of high growth companies.

See above for how a company can still be cash-starved from cost of operations and investments despite being worth billions on paper.

Current earnings do matter, because the current share price doesn't pay wages or keeps the lights on in your Gigafactories.

edit: I also find it quite amusing that you think the self-proclaimed "King of Doge" and co-founder of PayPal(!) doesn't know how crypto works, oh please.