[Terr_]

"What if everyone became a passive investor" is like worrying "What if the entire ecology became defenseless herbivores?"

It just won't happen, because there's a negative feedback loop against it, leading to a kind of homeostasis.

> At some point, no one is left to figure out which cookies are tasty vs meh, so the price of all cookies converge to a single price.

Five minutes later someone says: "Holy shit, I can make a ton of money by buying loads of cookies, sorting them, and re-selling them -- except with the definitely-tasty ones at a higher price."

[anm89]

Everyone here doesn't mean literally everyone. It means enough of everyone. And he's arguing it's already happened. And I agree.

[dougmany]

Well they will not be able to sell their over priced cookies to the uncaring masses.