NV_Killer has multiple potential outcomes, including becoming a challenger with a high terminal value at IPO, getting acquired by a corporate for NV tax benefits, selling off IP in case of failure, or pivoting into an applications company.
In situations with uncertain and volatile paths, it is advisable to be myopic and postpone valuation decisions until better data is available.
However, investor protection measures like Compulsorily Convertible Debentures (CCD) can be implemented to provide guardrails and facilitate delayed decision making.
Entrepreneurship requires a multi-disciplinary approach.