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A comment on Is Web3 Bullshit?. Parent comment

Re:Is Web3 Bullshit? by skeeter2020 on Sunday December 05, 2021 @09:46AM (#29449625)
The price of the stock reflects the underlying value though, out of a increasing pool of resources. Companies transmute inputs into outputs of greater future value. Every stock is not a GameStop competing to extract a bigger share of a limited pool of tullip investors.
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Re:Is Web3 Bullshit? by PaulDavisThe1st on Sunday December 05, 2021 @10:12AM (#29449844)
The price of a stock reflects beliefs about the prospect for price growth [0]. Since these beliefs may be nth-order derivatives (i.e. I believe that other people believe that other people believe that ....), those beliefs have varying levels of connection to "underlying value".

[0] or, alternatively, dividend payouts, but that's a totally different story.

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