I would have to disagree with the comparison of PayPal and Square. I find that there are similarities, but there are much more profits to be found in enabling businesses to bypass the hardship of being able to process cards (which can be both time consuming and costly). I think the valuation of Square to be reasonable, considering that in that they are early-stage and are already processing three million dollars per day (which is increasing). Though the valuation of Spotify at one billion dollars is just plain ridiculous.