ctruemane
ctruemane t1_j2e9otj wrote
Reply to ELI5: Tech billionaires lost $400 billion this year. Where does it go? Does anyone gain? by ChickenEnthusiast
Imagine you have a Spiderman Comic. Not even a really rare one. Just a regular old Spiderman comic. It's worth $1.
Then an interview surfaces where Stan Lee says that's his very favourite issue of Spiderman ever. Now it's worth $100.
Then you find out your copy is signed by Stan Lee himself. Now it's worth $1000.
Then it comes to light he signed ten copies of this one comic. A guy in Sweden owns the other nine. Now yours is worth $5000.
Then the guy in Sweden says that all of his copies burned in a fire. Now it's worth $10,000.
But then the guy is caught selling five copies of the comic. Turns out he made up the story to drive the price up. Yours is worth $5,000 again.
Then it turns out they weren't signed by hand, but with a stamp. Now it's worth $2,000. Then it turns out there's actually hundreds of them. Now its worth $500.
Then a story emerges that Stan Lee didn't draw any comics, or write anything, that it was all lies and self-promotion, and also he was secretly a communist and a spy for the Swedes. Every hates Stan Lee and all twenty-eight Spiderman movies currently in production are cancelled.
Now it's worth $1 again.
In all cases, your actual possessions haven't changed, but your net worth has been all over the place.
Expanded to a grand scale, that's basically how the stock market works.
ctruemane t1_j2ebq9c wrote
Reply to We all think humans will destroy the earth, but in reality, Earth will destroy humans far before that. by cloudboy37
There's no chance we'll destroy the earth. We'll just destroy the earth's ability to keep us alive.