Buzz is a misleading distraction.
More than 9 out of 10 venture capitalists think that unicorns (startups worth more than $1bn in the private market) are overvalued, no matter if they have one in their portfolio or not. Lyft‘s and Uber‘s stocks have lost respectively 43% and 28% of their value since they went public last spring. WeWork (and its investors) thought the company was three or four times more valuable than the higher point public investors would consider for its stock.
Buzz is misleading, because it generally focuses on one single thing. You always get what you reward, and so if all investors care about is valuation, the company can get to a high valuation (at least in the private market). And it is distracting, because it takes focus away from things that are more important when building an organisation that impacts millions of lives. Things such as the company culture, the business fundamentals, the effect of the product or service on society at large.
Companies can be built without raising money, without a pitch deck, and without a title in the front page of the financial newspaper.
It all depends on what you want to achieve in the long term.