Capital pricing is both scientific and artistic, with the characteristics of relativity, timeliness, opaque and subjective, and is influenced by feedback effect and institutional defect.

资本定价是一门科学，也是一门艺术，具有相对性、时效性、模糊性和主观性等特征，并受到反馈效应和制度性缺陷的影响。

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Fortunately, the venture capital industry ignored this feedback and financed all of them.

FORBES: To Ensure Ongoing Investment In Medical Innovation, Repeal IPAB

Then Kabbage analyzes their sales data, customer traffic and buyer feedback to determine whether to provide capital.

FORBES: Kabbage Brings Working Capital To EBay, Amazon And Yahoo Merchants

For entrepreneurs, it provides a highly valuable feedback mechanism on prospective offerings while allowing them to access capital much more readily than traditional vehicles including SBA loans, VCs and Angel investors.

FORBES: Earlier this year I wrote in Harvard Business Review