Yuval Noah Harari's theory of the "imagined community" in "Sapiens: A Brief History of Humankind" is simply spot-on for interpreting the business world—companies, brands, and even Bitcoin and stocks are essentially virtual entities sustained by "consensus". Once that belief collapses, even the largest business empires can fall into chaos in an instant.
Just like those seemingly indestructible giants, which are actually built on consumer trust. If you believe that their products are reliable and their brand is valuable, their market value will rise; but once their promises fail and their reputation crashes, no matter how good their financial reports look, the market will ruthlessly revert them to their true state. Bitcoin is even more so; it has no backing of physical assets and relies entirely on the shared belief of global investors to maintain its price. The stronger the consensus, the higher the value, and once trust collapses, a crash can happen in the blink of an eye.
Tesla stocks, Moutai stocks, Ethereum, BNB, are essentially all "consensus games". Investors believe that Tesla's technology can change transportation, that Moutai's brand can transcend cycles, and that cryptocurrencies can become the mainstream of future finance. These beliefs intertwine to form their market value. But if one day these beliefs are shattered—such as Tesla's technological bottlenecks, Moutai's quality controversies, or regulatory risks for cryptocurrencies—their value will also collapse accordingly.
The truth of the business world is never "the strong remain strong," but rather "the believers remain strong." All virtual business symbols ultimately return to the core of "whether they are believed in." You can use marketing, technology, and capital to build consensus, but only by truly delivering value and maintaining trust can this "imagined community" endure.
Which brands or assets do you think have the most solid "consensus"?
Buying Bitcoin, it dropped significantly today, suitable for bottom-fishing the big pie.
