Comment by lotsofpulp

There are quite a few defined benefit pension funds and 401k/IRAs that depend on the publicly listed businesses’s continuous long term price increases to meet people’s goals of being able to use their “assets” to buy the quality of life they want in retirement.

Certainly does not seem like the “short term” needful to me. US tech stocks are basically carrying a large portion of politically active US voters past the finish line.