Assess and compare the effectiveness of Discounted Cash Flow (DCF), comparables (multiples), and real options approaches when valuing high‑growth technology firms with persistent negative cash flows. Test should require evaluation of each method’s assumptions, necessary adjustments (revenue ramps, margin normalization, financing/dilution), treatment of terminal value, sensitivity and scenario analysis, selection of peer sets, handling of scarce or unreliable cash‑flow data, and the role of qualitative factors (market potential, network effects, adoption curves). Expect critical judgments on when to prefer one method or a hybrid approach, identification of common pitfalls, and how valuation results should inform investment or financing decisions.