alt Hacker NewsIt's a Keynesian Beauty Contest:
> A Keynesian beauty contest is a metaphorical beauty contest in which judges are rewarded for selecting the most popular faces among all judges, rather than those they may personally find the most attractive.
This explains why informed investors know TSLA is worthless, but they also know that the retail market as a whole thinks it's as precious as unicorn tears, so it is priced accordingly.
So the market actually predicts the gambling strategies of the players.
For example people who kiss their dice will likely put money on red.