“It’s a ponzi scheme” intrinsic value explained

There is intrinsic value in owning a stock. However you need to own at least ~5% to start getting the benefits:
-spot on the board
-money
-voting rights
-higher credit

This requires huge amounts of money though, as ~5% of a company is normally millions, if not billions. The benefits are also finicky, but both the requirements and benefits apeal to a certain group. Huge banks and other companies.

On avg, about 70% of the stock market is owned by institutions. This is for a reason, they have the money to get to the point where they actually make money, and thus create an intrinsic value to stocks.

The intrinsic value is the value company's can make from owning the whole company.
This means the company's give stocks intrinsic values.

Another way of thinking about it: BVPS(book value per share) if the company paid off all its debts, and liquidated all its assets, this is how much money it would have per share. This is what a company would make per share, if they were to own and then liquidate the entire company. This means that the stock price will rarely drop below the BVPS(only in penny stocks that big banks don't want to risk shit blowing up in the ~year long process of doing this)

This is the intrinsic value. The extrinsic value is what people will offer for holding that growing intrinsic.

Ex. If a company has a BVPS of 50$ and makes 5$ per share yearly, it will double it's BVPS in 10 years.

So, the intrinsic value doubles.