But note that the quote does call it out as a myth.

But when stock valuations are completely disconnected from fundamentals like earnings, then regardless of the legality we're kind of circling back to the market pushing that dynamic, aren't we? It's like the market is no longer even optimizing for short term gains per se (eg quarterly earnings), but rather for whatever memes might boost their meme stock. Sometimes this is [still] quarterly earnings, and sometimes it's about the perceived size of the market or how they're cozying up to the fascists in power. So for public companies, it's not like major shareholders, the board, or management really have the ability to work towards longer term plans that go against this dynamic.

It has become acceptable to misuse words, like "fascist" or "communist" in political contexts, to the detriment of rational and fruitful discourse. Often a false equivalence is drawn between denying something is "fascist" or "communist" and denying something is bad. This is false. Something can be bad without being fascist or communist.

There is plenty to be critical about in American politics and in tech, but calling everything you don't like "fascist" or "communist" isn't helpful. These seem to be go-to words used by those "defending" what is now a crumbling postwar liberal democratic order, i.e., anything that seems at odds with this order is reflexively called one of these two terms, depending on which faction of the American uniparty you align with.