Let's use a realistic example then. In 2014, Tesla raised a ton of money from the stock market to build the Model 3 factory / giga factory. Over the next few

Let's use a realistic example then. In 2014, Tesla raised a ton of money from the stock market to build the Model 3 factory / giga factory. Over the next few years, in a low inflation and low interest rate environment, the investors won. The factory was built, and years later the Model 3 was released to the public. ---------- How would things have changed if large inflation occurred in 2015 or 2016? The factory would have cost 5% or 15% more than expected, and the money raised in 2014 may have not been sufficient. The 2014 dollars raised are used to buy a factory in 2015 or 2016. That's just how companies work. If inflation changes the price of the factory years later, that absolutely affects the investors. The 2014 understanding of factory prices would be wrong, revised later and everyone would make less money in the long run. ------ EDIT: With less effective money (due to increased factory prices), the Growth company will either have to raise more money (ie: dilute the shares and split future earnings with more investors), or build a smaller factory (ie: lowering the amount of future production). Either way, the investors would have lost our on future earnings, roughly coinciding with inflation (ie: how much more the factory cost)