ht

[ht @htbburner]

@Pinex_uj @its_kipleting @Bhuvan_RJ46 It doesn’t matter. He got his paper contract of ownership valued at a certain $, that’s all that matters in capitalism. All wealth is paper. Ambanis paper stake valuation may be more stable but it’s still a paper contract stake valued at x.

[ht @htbburner]

@Pinex_uj @its_kipleting @Bhuvan_RJ46 He just raised 75 billion in cold cash off the IPO. It might be a hard concept to grasp but in modern capitalism everything is paper. That paper valuation led to real cash which can be used to make real rockets.

[ht @htbburner]

@Pinex_uj @its_kipleting @Bhuvan_RJ46 Ambani isn’t working in the factories generating more value than musk. He owns the companies through paper legal agreements just like Musk. Musk just knows how to play the capitalism game better and got paper ownership stakes valued higher even with 0 profits.

[ht @htbburner]

@Pinex_uj @its_kipleting @Bhuvan_RJ46 It’s still on paper wealth, it’s a paper contract saying you have x shares at x price

[ht @htbburner]

@its_kipleting @Bhuvan_RJ46 Correct and what gives him ownership of this?

Paper contracts saying he is the owner of x mine or x building.

[ht @htbburner]

@its_kipleting @Bhuvan_RJ46 How does Ambani “own these” buildings, minerals, oil and gas?

[ht @htbburner]

@its_kipleting @Bhuvan_RJ46 All wealth is paper

[ht @htbburner]

@RaBawmjs @SimonHoiberg We’ll meet up when im there then haha. European lifestyle in unmatched though so at least enjoy that

[ht @htbburner]

@RaBawmjs @SimonHoiberg I am actually moving from nyc to London/switzerland lol hence the discussion

[ht @htbburner]

@RaBawmjs @SimonHoiberg I am also an ex nyc finance guy who has been to 50+ counties and spent a bunch of time in London and Switzerland. The US is still the biggest and I’m saying other than the US these 3 countries are still top tier business centers. Everywhere else is a joke.

[ht @htbburner]

@RaBawmjs @SimonHoiberg Again you’re missing the point, I’m saying other than the US those 3 countries are top tier, including the big pharma, energy, manufacturing and finance. Keep in mind the US is only 25% of the world economy

[ht @htbburner]

@RaBawmjs @SimonHoiberg Again not everything is a tech startup. The biggest banks are in China, the biggest pharma companies are in Switzerland and there are plenty of other multinationals headquartered in London. Not arguing but you can’t discredit these 3 places are top tier

[ht @htbburner]

@RaBawmjs @SimonHoiberg Not everything is a tech startup, for everything else like pharma, energy, construction, manufacturing or finance UK/Switzerland/China are top too

[ht @htbburner]

@jeremymstamper 300 billion in 2006 dollars according to M2 expansion, much less 1980

[ht @htbburner]

@bobWaltzer @HistoryWJacob Not really US GDP and musks companies way more inflated now than back then

[ht @htbburner]

@ArmenianGroypr @tmppbr @HistoryWJacob Usd no longer pegged to tangible assets

[ht @htbburner]

@MonetaryWonk His companies are also overvalued 10x+

[ht @htbburner]

@rhunterh And in 2006 people like Bill gates had 50B

[ht @htbburner]

@rhunterh Just accounting for M2 increase in money supply 1T today is 600B in 2016, and 300B in 2006.