[jammies]

Companies aren't works of art, there is an objective value - theoretically based on how many assets it has, how much profit it can make, and how much growth it is likely to see - as well as a subjective value involved. The idea that things are worth what someone is willing to pay for them is nice and all, but is only partly applicable to things that actually have utility, not just circularly-derived value.

Of course, since the early 80s the entire basis of investing has been "how much can I flip my investments for?" and not "how much profit will my investments make me in dividends?". Concepts like utility and profit only distract us from churning out vast amounts of imaginary value, so go Uber go!