fredwilson
@fredwilson.eth
Hi Farcasters. I wrote a post today outlining my thinking on tech stock valuations. You can read it here https://avc.mirror.xyz/NC-WC3cUf2s_xyEJtpEWeSRqi1P1G5rC9a5n9vGDudc
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Alex Miller
@alexlmiller
Does your 5-10% cap rate on RE include operating? Or is that just for the build it, hold it, sell it later?
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fredwilson
@fredwilson.eth
It is entirely operating cash flow yield. Appreciation is the kicker which could happen but can't be counted on
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