@mods can this be partially resolved, even if market cap is not defined? It certainly didn’t in 2024 or 2025 etc

@Pjfkh options cant be resolved NO early

This market seems badly calibrated to me, but if accurate the implications for Microsoft are massive and make it look like a very cheap investment. Satya Nadella is the more interesting character too compared to Sam Altman. He should get more Time POTY consideration perhaps?

In the absence of an IPO, is the valuation used for a round above a particular size = market cap?

Other would include no public offering?