Chris Bryant, Columnist

Elon Musk, Chamath Palihapitiya and Cathie Wood Face a Reddit Reckoning

Profits beat prophets in today’s stock market.

May 17, 2021 at 5:00 AM UTC

Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times.

Will Musk, Palihapitiya and Wood be as adored when tech mania subsides? — Will Musk, Palihapitiya and Wood be as adored when tech mania subsides?
Photographers: Win McNamee/Getty Images; David Paul Morris/Bloomberg; Alex Flynn/Bloomberg

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Back in January I highlighted three people who’d become the face of the booming stock market: Tesla Inc. boss Elon Musk, serial SPAC promoter Chamath Palihapitiya and stock picker Cathie Wood of Ark Investment Management LLC.

The trio are evangelists for innovation and each, in their way, has encouraged investors to pour money into extravagantly valued tech stocks and speculative cryptocurrency. Would Musk, Wood and Palihapitiya be as adored when tech mania subsides, I wondered. We’re about to find out.