> If apple shares could only pay dividends in more apple shares
Google shares don't pay any dividends at all.
Why exactly do people pay 1,000 USD for one share of GOOGL?
Are they buying an option on the right to receive dividends at some indeterminate point in the distant future?
Do they think they'll receive a fraction of the enterprise value when Google gets bought by a bigger company?
Will Google get sold off piece by piece and they'll get a pro-rata share of the liquidation proceeds?
Why would you pay "real money" for an electronic entry in the broker's ledger for an intangible asset that may never get converted back into USD?