Way before that, actually. At the very least, since GFC of 2008. Traditional valuation models died long ago. My vague belief is that the only deciding factor for markets now is the amount of capital free for investing (and that multiplied massively through QE and covid handouts). So we have trillions of dollars sloshing around looking for a home. Be loud as Musk and it will flow your way, regardless of what you are actually producing. Hence the unhinged valuations of several top companies.

Ah, thank you! Now I see the way!

So, i am confused. If Musk says something is bad - then it must be good, right? But that thing is coming from Trump, meaning it certainly must be horrible shit. So much confusion!