I agree quite a bit with him on point 1. Yield starved investors gobbling up more risk to get higher returns in a zero-interest rate policy environment. Also, low risk free rates mean lower costs of capital across the board and I feel that many companies that shouldn't be able to are able to raise more money since investors are yield starved. Also if you're running a DCF analysis on a company, lower risk free rates mean lower discount rates, meaning higher valuations on lower cash flows. Across the markets multiples have been expanding.
On that note, a lot of his commentary seems to be smartly focused on being able to defend valuation outside of the VC universe on a solid EV/sales or EV/cash flow multiple basis. Choosing to go for a lower valuation in the near term makes it easier to argue about revenue growth in the future leading to valuation multiple expansion, possibly making investors more prone to accept price growth.
On that note, a lot of his commentary seems to be smartly focused on being able to defend valuation outside of the VC universe on a solid EV/sales or EV/cash flow multiple basis. Choosing to go for a lower valuation in the near term makes it easier to argue about revenue growth in the future leading to valuation multiple expansion, possibly making investors more prone to accept price growth.