> All the market correctly predicted is that the market would continue to incorrectly predict their value.
I don’t understand why so many don’t get this, especially after crypto currencies became a thing. The token can be DOGE or TSLA, the mechanism is the same, only marketing and PR content change, reality doesn’t matter. In fact Musk already said Tesla is not a car company anymore. Crypto opened the eyes of a lot of smart CEOs, and not in a good way, and investors look away as long as the dance continue.
I don't touch crypto, but one thing I took away from its rise is thinking through what money actually is and what equity valuations actually represent.
I don’t understand why so many don’t get this, especially after crypto currencies became a thing. The token can be DOGE or TSLA, the mechanism is the same, only marketing and PR content change, reality doesn’t matter. In fact Musk already said Tesla is not a car company anymore. Crypto opened the eyes of a lot of smart CEOs, and not in a good way, and investors look away as long as the dance continue.