I really like this and how it explained current events re: NFTs.
But then I read this paragraph and it's so incorrect that I can't trust the rest of the article:
> ... One thing that I like to think about short selling is that it creates new shares of a company, and to some extent those shares compete with the shares issued by the company. If you short a bunch of oil-company stock, someone who wants to buy oil-company stock might buy it from you instead of from the company. In the limit, if enough people embrace the idea of shorting oil stocks, they will crowd out the oil companies; it will be impossible to finance oil drilling because any money you put into oil stocks will go to short sellers, not drilling.
But then I read this paragraph and it's so incorrect that I can't trust the rest of the article:
> ... One thing that I like to think about short selling is that it creates new shares of a company, and to some extent those shares compete with the shares issued by the company. If you short a bunch of oil-company stock, someone who wants to buy oil-company stock might buy it from you instead of from the company. In the limit, if enough people embrace the idea of shorting oil stocks, they will crowd out the oil companies; it will be impossible to finance oil drilling because any money you put into oil stocks will go to short sellers, not drilling.