> "Celestia is perhaps the best example of this, commanding at $15B valuation while also generating less than $100k in annual protocol income. For sake of reference, that’s roughly the same as what Snapchat is valued at, a company that does over $1B in cash revenue per year and is used by hundreds of millions of people every day."

I got used to these crazy crypto valuations, but whenever I see a comparison like this, it makes me feel uneasy.