Among the reasons that I am busted flat is that I regard publicly traded companies as a profoundly bad idea. I am very strongly in favor of investment but feel the investors should be paid with dividends, as well as by the growing value of their equity.
Value and price are quite different things.
Despite that I was - until recently - unemployed, I avoid applying either to publicly traded companies or privately held ones whose investors intend to exit.
The company I work for now is a privately funded partnership. Thats how it commonly works in most fields other than tech. There are lots of privately held tech companies too but they are hard to find because they dont get much press.
Though most of his comments are rather cogent, if a bit caustic when talking about SV.