> If your market cap exceeds the median GDP of all African countries
What does this mean?
In terms of GDP, the median African country is Benin, with a GDP of about $20 billion. Maybe you want mean instead. The average GDP across the 51 countries in Africa is $56 billion.
Do you think that, um, Chipotle with its market cap of $88 billion should be broken up? What about Costco? Its market cap is over $300 billion, and it has quarterly revenue of about $60 billion -- if it were a country in Africa, its annual revenue would rank in the top 5 in terms of GDP.
The aggregate GDP of all of Africa is about $2.9 trillion. Literally only Microsoft exceeds that today.
Are you just picking companies with a market cap above $2 trillion? What about $1 trillion? $500 billion? Alphabet's market cap at the end of 2016 was $540 billion. Has Google's influence over the internet increased meaningfully since then?
(I don't necessarily disagree with your thesis; I'm just trying to understand your benchmark.)
I assume he picked some ridiculously high number as a starting point.
In the end the problem is capitalism, the idea that investors (people merely looking to turn money into more money) should be considered the only owners of companies.
That forces this eternal growth model on us that enshittifies everything.
What does this mean?
In terms of GDP, the median African country is Benin, with a GDP of about $20 billion. Maybe you want mean instead. The average GDP across the 51 countries in Africa is $56 billion.
Do you think that, um, Chipotle with its market cap of $88 billion should be broken up? What about Costco? Its market cap is over $300 billion, and it has quarterly revenue of about $60 billion -- if it were a country in Africa, its annual revenue would rank in the top 5 in terms of GDP.
The aggregate GDP of all of Africa is about $2.9 trillion. Literally only Microsoft exceeds that today.
Are you just picking companies with a market cap above $2 trillion? What about $1 trillion? $500 billion? Alphabet's market cap at the end of 2016 was $540 billion. Has Google's influence over the internet increased meaningfully since then?
(I don't necessarily disagree with your thesis; I'm just trying to understand your benchmark.)