Brian Hamilton : Have billion - dollar valuations of companies become the norm ? Hamilton : However , investors placing their bets on tech companies without basic fundamentals are more likely to resemble Ponce de Leon : map-less and looking hopelessly for the Fountain of Youth . Even a decent business model does not require such high numbers . WhatsApp 's acquisition price is above market cap of 275 companies in S & P 500 . Hamilton : Investors should value companies based on characteristics , like quality .
Brian Hamilton : Have billion - dollar valuations of companies become the norm ? Hamilton : Even a decent business model does not require such high numbers . WhatsApp 's acquisition price is above market cap of 275 companies in S & P 500 . Hamilton : Investors should value companies based on characteristics , like quality .