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Leaving out the fact that Alex's data is wildly inaccurate that is probably the worst possible way to try to value a company. The most obvious issue is that Pinterest has only been…

Is that like "my monthly revenues are 2000% month-over-month" when your total revenues are $200?

Pinterest got this valuation because their story is that it's related to ecommerce. The thing is it doesn't seem like that's turning out to be very true at all. It seems like what …