Every decade or so a new (and very, very naive) generation of venture capitalists comes along and eagerly scramble onto whatever bandwagon happens to be briefly fashionable. Most recently we've seen billions thrown at blockchain, for no good reason, and then Musk's PT Barnum act enabled him to grab billions of investor money in order to fund businesses that have no significant value. In fact, the paucity of Musk's imagination is what is most striking - he has no original ideas at all. So it's hardly surprising that he thinks managing companies like some starched-collared Victorian is a "smart and stable genius" move. As a spoiled whiny rich boy, it's also not surprising that he shares more in common with creatures like Trump than with real entrepreneurs. And as the stock market is generally populated by over-coked know-nothings, it's also not surprising that share prices should bear little relationship to actual value.

All in all, the sooner Musk f*cks off to some private island where he can grow ever-more-bloated, the better. And now that gullible investors have lost billions of other people's money, perhaps the markets will settle down for a couple of years before the next bout of mindless hype.