> The investment thesis for Tesla is absurd. They built the market cap on hype and it got big enough that it remains a force. It’s a flailing company, kept afloat by bullshit.

Maybe, or maybe they are one of the few businesses people want to bet on to be able to create new streams of revenue. Intel used to be big, and now it isn’t. It being big didn’t help stop its demise.

> The investors cashed out their shares to the public, who took the loss.

They didn’t. The biggest investors, the founders, still have almost 50% of the shares. Also, SNAP peaked at $131B in September 2021, 2 years after SNAP went public at $27B.

Would you have written then that “The investors cashed out their shares to the public, who took the loss”?

Of course not. Because index fund investors did not cause it to go to $131B, and they didn’t cause it to go to $6B.

▲

Saline9515 5 hours ago | parent [-]

The fact that founders still own 50% of the shares doesn't mean that they didn't sold some of ones they had. Also Snap gives very generous stock options to their C-team, meaning that they can sell overtime while keeping their large stash.

	▲	lotsofpulp 4 hours ago \| parent [-]
		In your previous post, you complained > so they harvest the vslue and spit out the company late in the value cycle. So SNAP executives IPO’d at $27B, and over the next 4 years, the market cap increased to $131B, which anyone in the public could have benefited from. Yet now you are saying SNAP execs are wrong for selling their equity over time? It doesn’t seem like there is any winning here for SNAP’s executives, even though they gave the public the ability to quadruple their money in 4 years. What more can you ask for?