‘Exhaust Fumes’, or, Understanding Startup Valuations.

1. The corners of the valuation room

2. A practitioner’s guide to startup ‘valuations’

3. An hour to learn, a lifetime to master

4. Introducing multiparty staging

5. Multiparty staging over long time horizons

6. Capital is signal

7. A critique of Prof Aswath Damodaran’s piece on how VCs value / price; introducing signalling

8. Why access to high quality deal flow matters. A quick detour.

9. DCF is a valuation technique for low growth environments and not a general-purpose valuation tool

10. Summing up



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