For “market volatility,” read people are redeeming cash from the market.
For “market growth,” read people are putting more cash into the market.
For continued market growth, you need more people wanting to put cash in and fewer people wanting to take cash out. [Edited from the original because I was reminded that all transactions require both a buyer and a seller; it’s just that the party who wants it least determines the price.]
My investment protects you.
Your investment protects me.
After all, “panicked investors” can also be read as people redeeming cash from the market — and if too many people take cash out of the market before we get a chance to redeem our own investment value, then you and I won’t be able to take out as much cash as we were hoping to.
At least, not until more people decide that it’s time to put cash in.
(You’re going to say “but market growth is also based on businesses being better at businessing, Facebook’s stock cratered last week because Facebook did a bad job being Facebook,” and I’m going to say “ummmmmmm Facebook’s stock cratered last week because people [or bots] decided they’d rather have the cash value and/or were worried that other people [or bots] would redeem the cash value before they got a chance, and remember that even GameStop’s stock can rise if people put cash into it.”)