oliver smith, editor of altfi, joins me now. lots of millions, but none relating to profit.as this valuation come from? i think there is lots of excitement around this company. it's demographics are two—thirds women, and a lot of children as well. it has a lock on this audience and advertisers love that, they can target that group, and among its users, it is loved. unlike facebook and some services getting a bad rap at the moment, pinterest is largely loved and does not have that reputation. that said, this coming to market, the last tech company to doa ipo to market, the last tech company to do a ipo —— an ipo was the rider sharing up lyft, and its share price has fallen below what the initial price was. is there perhaps a note of caution? there is, i think lyft has fallen about i7% since it debuted a few weeks ago. lots of people are watching pinterest, priced above what was expected, which is good news. there are other companies waiting in the wings. you have the likes of uber, the right hailing giant, the chat app slack. they are lining up in considering whether it is th