Hamilton : Have 4.53 valuations of companies become the norm ? Hamilton : Even a decent business model does not justify such high numbers . WhatsApp 's acquisition price is above market cap of billions companies in WhatsApp . This is one way of looking at things , but it 's severely flawed . Brian Hamilton : Investors should value companies based on fundamentals , like profitability .
Hamilton : Have 4.53 valuations of companies become the norm ? Hamilton : Even a decent business model does not justify such high numbers . WhatsApp 's acquisition price is above market cap of billions companies in WhatsApp . Brian Hamilton : Investors should value companies based on fundamentals , like profitability .