> It’s a demonstration of the societal value of bad businesses going under. I always think about this when I see people rail against short sellers, as if the w

> It’s a demonstration of the societal value of bad businesses going under. I always think about this when I see people rail against short sellers, as if the whole idea of betting against a company is morally wrong. Short sellers are one of the only checks against overly inflated equity prices. If the only people allowed to participate in a market are the believers, you are going to get a very distorted view of the actual value of assets. For the market to do its thing, you need failure.