You're conflating compounding market value with economic growth. One counterexample is when inflation raises prices, but not economic output. Asset prices grow but there's no growth.

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ajmurmann an hour ago | parent [-]

What do you think happens with the money that goes into stock? It doesn't simply vanish. It ultimately gets invested in salaries, construction of data centers and factories.

	▲	kubb an hour ago \| parent [-]
		That's most certainly not what happens! The money that goes into buying a stock is being transferred to the people who sold you the stock (which, outside of the IPO are almost always market players). A company with a high stock price can "save money" by paying employees in stock, borrowing money cheaper, but it's NOT a primary way of funding the company.