I think there are a lot of companies that are staying private longer. Much more of their growth is happening while they are on the private side. So their valuations are hitting $1 billion while they are still private more often.
That was how divorced from the human scale modern warfare had become. You could smash and destroy from unthinkable distances, obliterate planets from beyond their own system and provoke stars into novae from light-years off. . . and still have no good idea why you were really fighting.