Comment by Aurornis

> So if I understand well, investors are not really investing for the company results

I don't know where you got that idea. Investors are putting their money into this company because they like the results and believe it's a better investment that their alternatives.

Any time you sell shares you generate some signal about what a company is worth. You can claim the company is worth a $100B all day long, but until you can sell a significant number of fractional shares of the company at that valuation it's just talk.

> In a kind of a ... ponzi pyramid?

A ponzi scheme or pyramid scheme implies that the company is lying about their results and books. Classic ponzi schemes might not have any real assets at all. The operators lie about the company and rely on incoming cash from new investors to pay out claims from past investors.

There's no ponzi here unless you believe Databricks is completely falsifying their operations and results. If any of those investors took their shares to the secondary market there would be plenty of other investors interested in buying them because they represent shares in the real company.