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Largest companies by market cap 1979-2021:

Adjusting for inflation is also important nowadays. I would suggest to all of you digging through the numbers to do so. We’ve been a bit spoiled with inflation low enough from 2010-2020 to mostly ignore, but that’s not the case now. Normally, 8% growth would be pretty good, but today it isn’t...

Musk is a maker, and Bezos is a middle-man.

lol:

Lol how did Toyota get so painfully dumb?

Hopefully Amazon’s stink keeps away from TSLA today…

8% growth in a 8% inflation environment is actually 0% growth.

The only large cap more overvalued than Amazon is Salesforce.

Not true, tbh. They only make money if a billion dollars worth of new members subscribe to prime to watch it.

I can think of one….🥸

On top of this, AWS, which basically funds the rest of the money-burning enterprise, is soon going to be spending loads of CAPEX on it’s Starlink clone Kuiper… only they are going to be using expendable rockets with 5-10x the per kg cost SpaceX pays!! Hell, Amazon just recently lit a *billion...

I think the mathematical term is called “undefined” 🤓

Amazon’s financials have been a garbage fire for almost a year now. I have no idea how this company is (now was) worth over $1T. It’s burning cash, printing stock, has a triple digit PE and can’t even outgrow inflation.

Amazon is easily the most over-valued mega cap. It should be worth <$500b. It has a price to operating income ratio of over 100 with sub-inflationary growth.

All the tech mega-caps are eating 💩 today…probably what is holding TSLA down.

The two companies primarily focused on making things instead of monopoly rent seeking….

Meta now down 23% premarket… 🤣 Apple and Amazon report today, will be interesting to see their results. Amazon is the most overpriced mega-cap IMHO.

I don’t think it’ll integrate much with Tesla. If it was to integrate with anything Starlink is the most likely IMHO.

I think the closest analogy is Weibo in China. But yes, payments, video, messaging, etc. I was less than bullish on it at first, but seeing how many of these social media companies seem almost constitutionally incapable of managing costs, there may be something there. The bloat is real at...

Well played lol. Since 6/18 TSLA has more than 10x while if you still held FB it would only be worth half.. 😳

Facebook headcount is up 28% YoY… 🤣

I wouldn’t be surprised if they lost money in Q4… The cost bloat at some of these tech firms recently is truly ridiculous. Facebook had $29b in revenue q3 last year and $9.2b in profit compared with $27.7b in revenue and $4.4b in profit now… that’s 18% more cost for 5% less revenue! 🤣 Google...

It has *nothing* to do with age, it has to do with corporate culture and easy money. Easy money the last ~6 years had made a lot of firms go soft. The iron law of bureaucracy exists in the private sector too.

When I talk about “PMC bloat” at places like Meta, Google, and others, you can see it in posts like this: This worker probably gets paid $300k+ a year ($1200 a day) and does maybe 2 hours of actual work a day. This is why productivity growth is in the toilet in this country. Many firms...

Facebook stock is dumping At 7 year low AH.

Dealing with Québécois bureaucracy is probably going to add far more costs than resource proximity will subtract unfortunately. There is a reason that in spite of having a well educated population and some of the lowest energy prices in NA that Quebec has much lower GDP per head than even...

honestly (and unfortunately), unless it’s for a local specific resource (like maybe nickel) I wouldn’t bother with Canada for a GF. I would pick Tennessee and Mexico for the next NA factory locations.

At this point you should know to expect the unexpected with TSLA.. 🥸🤓

Professional Managerial Class

Google’s numbers are more terrible the deeper you look. It’ll be interesting to see how Facebook fares today. PMC cost bloat is getting ridiculous at some of these companies. It’s IMHO the reason productivity growth right now is so terrible. There are growing legions of $200k/y+ labor cost...

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Interesting thread… the fun part is when you scroll down to Tesla. 😎

Macro: GM reports earnings this morning and Google and Microsoft this afternoon.

LOOOoololllL

It’s doubly dumb because I’m pretty sure he already goes through constant security reviews for ITAR reasons wrt SpaceX.

Some Chinese stocks today: -11.4% Tencent -14.6% Alibaba -14.9% Xpeng -16.0% Baidu -18.2% NIO -28.3% Pinduoduo 😳

Chinese stocks are getting rekt. Alibaba, with a PE of like 7 now is down double digits.

The more authoritarian a country is, the more they fudge their statistics. Since Xi took power, the amount of economic statistics China publishes has declined, along with their quality. The reason for this is that it is harder to spot the fabrications if you no longer have proxy data to use...

💯 Mind you, that $11.6b TTM profit includes like $15b in Q4 2021 from Rivian. Amazon will probably lose money this year. Amazon (and salesforce) is the most overpriced stock rn. It’s priced to perfection. Even if you filter out Rivian it’s price to operating income is like 100x Amazon also...

…lot of big players posting earnings this week that could set the tone for macros.

The demographics of Japan, China, Taiwan, and South Korea are horrific….

The Tesla Model smöl is actually a great idea! 🤣

Euro, pound, and yen lost lots of value in Q3.

Alibaba is now worth less than it’s 2014 IPO price… 😳

https://en.m.wikipedia.org/wiki/Crab_mentality

Daily reminder that SpaceX and Tesla are two giant white pills in a modern sea of black pills. A bunch of miserable blackpillers (like Rob Reich types) are nothing more than human versions of crabs in a bucket, and profit off the misery they spread.

It’s kinda amazing how the Japanese yen is in complete collapse and no one is talking about it….

http://4.bp.blogspot.com/-ldpETOlv9qw/Vlrrj1nHMHI/AAAAAAABWlM/0xDC8Cb9iUU/s1600/screen480x480.jpg Mod: We VERY MUCH PREFER that people don't post just links without saying something about what they lead to. In this case I will vouchsafe the link and leave it here, but please don't make a habit...

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