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> The value of the stock is your share in the underlying business.

Which for most investors with Class C/D shares is... the square root of zero.

They assert no control over the business, the only way to benefit from the stock is to find another shmuck to buy it at a higher price.

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The price of a growing business should go up because it has more options to create returns for shareholders.

Use Aldi (revenue ~$120B) as an example. Do you think a person would be a shmuck to buy a slice of it now versus when revenue was $1 million? If not, why not? Your answer will help understand why stock has value even without voting control or dividends.

It depends. What if Aldi bled a trillion dollars for this revenue of $120B? Would it be a desirable purchase?

Google and Meta have a reasonably similar corporate structure. Most of the voting power is concetrated in the hands of a few. They have both done very well since their IPOs. Do you exclude these companies from your portfolio?

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