The (real) dead economy theory

Elon Musk's net worth increased from $20 billion to $1 trillion between 2020 and today, yet virtually everything he has launched since 2020—including Starship, robotaxis, Cybertrucks, and Twitter—has flopped commercially, illustrating a broader failure of financial markets to accurately value assets. The article argues that modern markets operate on "vibes" rather than fundamental value, exemplified by major institutions like Goldman Sachs backing speculative ventures like the SpaceX IPO while defunding productive research like cancer studies in favor of AI investments. This represents a collapse of institutional structures designed to ensure rational asset valuation, with investors betting on future price increases rather than actual utility or functionality.