[popcorncowboy]

Although, it's "5.6" not 5.6. That 5.6 is a bag holder number. MS put 7.5B real dollars on the table. The VCs putting cash into postman at "5.6" are using heavy breathing and hand waving to explain the potential LTV of (apparently) 20m devs to the greater fool.

[ericjmorey]

5.6 is the break even number for the VC fund. And given the the interest rate environment and the time horizon of realizing a return, 5.6 would be an embarrassing loss for the VC fund.