Does it, though? Tesla stock hasn’t run into reality yet. All that’s required to avoid reality is for enough people to keep believing believing the lie. If a bunch of big companies all invest in each other and never sell, then wouldn’t it prop up the whole thing and the valuation stays high? I’m open to ideas

The Keely Engine continued to get investors until Keely died.

Sometimes, a conman outruns the con. They just die of old age before it falls apart.

It's the 1880s all over again. Conmen can outrun the press and overall information space. Back then you took investor dollars and shoved them into wagons that traversed the West selling stock.

Today, you can accomplish the same with a few Facebook campaigns.

Valuations are not value.

There’s a point where if you ask to be paid a billion dollars for something that is worthless, people just laugh at you.

Until the next transaction you can keep pretending the old inflated valuation is real, but you can raise capital, not without popping the bubble.

At some point people will stop giving Tesla and NVIDIA more money.