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This is, yet, again, an ill-informed and extremely narrow-minded statement. Stock markets came about because they were a way for farmers to hedge their bets aga
by txcwpalpha 8y ago
This is, yet, again, an ill-informed and extremely narrow-minded statement. Stock markets came about because they were a way for farmers to hedge their bets against poor crop yields and allowed them, as well as the civilizations that depended on them, to survive winters without starving. Stock markets are responsible for the growth of major trade routes that did things like spread agricultural innovation, knowledge, and culture throughout the ancient world. It was not "to make investors rich".
Today, the stock market still serves as a way to spread innovation. Elon Musk would not have been able to build Tesla, nor SpaceX, nor Solarcity without the help that Wall Street has provided. You are incorrect in assuming that this is about a "single-minded focus on wealth". They are asking questions about capital because these are the things that will determine whether or not Tesla will fail at "making the world a better place", and those are important things to know, just like it was important to know if all of your farmers are going to go out of business and cause a famine.
- mmsimanga 8y agoThis story was about how Musk replied to some investor questions. He said to them you need to be accept volatility. I support this view. I suggest you keep this context in mind when reading the comments instead of reading this as a thesis on the pros and cons of stock exchanges. Do you think everything about stock exchanges is good? Everything has pros and cons. From MySQL to PHP to Java. We all draw different conclusions based on our experiences, preferences and character. I have reported to too many accountants to actually give a rats ass about their so called "tough" questions.