That's an incomplete analogy.
Lets say a potential business partner wanted to start up such a business. Would you invest your money in it? What if he told you that the only thing he would ever give you (or anyone you sold your interest to) for reimbursement was a piece of paper that said you "owned" 49% of it?
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The fact I could sell my half of our laundry business is about the appreciation of the business as an ASSET.
My question is, under my example above, which seems to be a fairly accurate description of the current stock market, at least from my point of view, why would anyone want to buy it?