I also find it silly.

"OOh, we raised $13 million, and we say it's valued at $80 million dollars (even though the assets/product/tech is nowhere never $80 million and we're losing money everyday)! So you're just buying it at a 25% premium, Square! CHEAP! CHEAP!" -investors at Caviar

"Hey guys, stocks is virtual money! I mean.. who's gonna repay the public when they buy our stock! Let's buy Caviar for $100 million stock! It's like we paid nothing!" - executives at Square

Yup.. it's a bubble alright!