All our hard work is about to start paying off! Now that we've talked in detail about companies and their financials, we're ready to talk about valuation. In the first of several valuation-focused episodes, we introduce the concept of the Discounted Cash Flow (DCF) model, and the what/when/why/how of discounting future money. To do this, we do a deep dive on calculating a company's cost of capital and introduce the concept of Weighted Average Cost of Capital (WACC).