[stateofnounion]

The phrase "the stock market" appears 7 times in this article, but is never discussed let alone defined.

It doesn't make sense to analyse "the market" as a monolith--not that there was much of that in the article anyhow. Yes, there are winners, which has led to a net-postive macro trend but there are losers which have crashed as well.

The interesting question is what causes some companies to generate revenues while others fail.