> Mountains of academic research has consistently found ... "Past performance does not guarantee future returns", and vice-versa. That's a somewhat trite stat

> Mountains of academic research has consistently found ... "Past performance does not guarantee future returns", and vice-versa. That's a somewhat trite statement (albeit technically true), but it's particularly relevant here where people are betting on disruption. The "concept" behind this movement is that one can influence stock performance through collective action by taking decisions that would not have been taken in the past (for very obvious industry reasons, like those given in your comment). It's a high-risk bet for some, but noone is going into this hoping for a return based on traditional market performance.