Bezos and Midas – Facebook and Amazon market cap

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I don’t usually cover market news, but for those of you who haven’t heard: Jeff Bezos just became the world’s richest person, with more money than Gat
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Who cares?  This is monetary voyeurism.

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Really? I bet you are a supporter of free markets and competition, right? Soon enough Amz won’t have any competition and it’ll be more powerful than the govt. So much for the US freedom of choice.

Also, have you read the various media reports on how Amz misleads on price? No wonder Bezos became richest.

It’s not that he’s rich, it’s how he got rich and with what systemic consequences. Concentration of power was anathema to founding fathers, who are probably turning in their graves.

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samak, Elly

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Hmmm….

How much of that multi mega billions is real money and not credit and debt facility and bogus accounting and self-determined valuation???

Let them eat ipad 😛

back to fishing for better dreams

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Cybertooth

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There is definitely an element of unreality to those “wealth” figures. Bezos or Gates are said to have a “net worth” of some $90 billion each. But if either of them tried to turn that supposed wealth into actual, in-your-hands money today, the value of Microsoft or Amazon stock would plummet in the blink of an eye, with their so-called net worth plunging accordingly.

That’s not to say that I wouldn’t want to own that kind of paper wealth, but just to point out that it’s not quite the same as tangible wealth. Unlike coins or a building, it can vanish faster than you can say Diana Containerships.

 

 

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Actually, Gates is pretty diversified. It’s true that if Amazon’s stock tanked, so would Bezos’ net worth, also true with Zuckerberg and Facebook. And while Buffet’s worth is tied to Berkshire Hathaway, it is a diversified company less prone to tanking, or at least less prone to stock volatility. Gates, on the other hand only has about 15B of his 90B in Microsoft. So, Microsoft could go completely under and Bill would still be doing just fine.

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Profits and stock just did — 77%.

Another reason no company should be allowed to become too big to fail. They eventually tank and when they do they take a lot down with them.

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The real eye-opener for me on how big Amazon has been allowed to become was a couple months ago when AWS crashed and took out half the internet.

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Ah, but you’re missing the point, which is to become very big fast, too big to fail. Then you can do everything by threatening massive loss of jobs.

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Some believe that Vladimir Putin is the richest man in the world. Not bad for someone who has always lived in government assisted housing. I doubt he is philanthropic. He has the reputation for being a taker, not a maker.

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This is how and why he has become this rich.

It is pretty common that grown up professional men come out of the meetings crying. That is not a place I’d like to work at.

https://www.nytimes.com/2015/08/16/technology/inside-amazon-wrestling-big-ideas-in-a-bruising-workplace.html

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samak

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Hey, this is the American dream. The freedom to craft modern-day slavery in a legal way.

Windows 10 Home 22H2, Acer Aspire TC-1660 desktop + LibreOffice, non-techie

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Took the Word out of my mouth.

The whole idea was to use vast amounts of capital to undercut most competition and then make several folds more as a monopolist. And given the level of uninformed ignorance , it worked. Not to mention the vast misleading manipulation of prices.

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