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Compesh is a question and answer (and debate) website, so before you make a debate, you better learn what an assertion is. I suppose you already know what a question is, and that you've typed it in the box. ;)
An assertion, is basically a statement you can make, that is either true or false.
Richer people have better health.
The question for that would be, Do richer people have better health?
And don't forget to make your assertion, match your question.
For that reason, companies are not taking any chances, and they won't let any potential threats such as foursquare, Apple's Siri, Facebook, Twitter, and Quora, take their place.
Because of this, it makes perfect sense why Quora should be valued at $1billion, like Instagram. The name of the game is Kill Google, and the [nuclear] weapons used to do so are massive, hence the high valuations.
Facebook's $1bn Instagram puchase, was used to build a moat, so that Google couldn't buy it.
And Quora's $400m valuation is priced so high in its infancy, so that if Quora ever does happen to be a threat to Google in the future, that the investors would have capitalised on it, and not anyone else.
Think about it!
This is the Internet Cold War.