> I invested in Tesla's IPO with some chump change (mostly because I was a lot poorer then). $4000 turned into $200k+, at which point I sold half. So perhaps yo

> I invested in Tesla's IPO with some chump change (mostly because I was a lot poorer then). $4000 turned into $200k+, at which point I sold half. So perhaps you are right but I'm $100k cash / $100k paper richer for being "wrong". Ponzi schemes will often lead to people making money in the short-to-mid term. Not saying that Tesla is an outright Ponzi scheme but I do think that their stock is overinflated and following something Ponzi-adjacent. I can find plenty of examples of charismatic people that develop large followings that really don't deserve it, and then everything eventually tanks. The rest of what you said is more or less ok.