> And most of that money wasn't actually money, it was free infrastructure.

But everyone who chipped in $$$ is counting against these top line figures, as stock prices are based on $$$ specifically.

> but my uneducated brain (while trying to make a point) would say it is 20% of the stated value of the investments

An 80% drop in valuations as people snap back to reality would be devastating to the market. But that's the implication of your line here.