alt Hacker NewsYou can tell that he doesn’t really think too deeply about any of this, because the way he wants to illustrate the point is by typing the numbers into a calculator.
It’s as if the money comes right up out of thin air, isn’t it?
He inadvertently gets close when he talks about Facebook being about people doing stalking. PG, is stalking a good thing or a bad thing, hmmm?
There’s no conservation rule for an asset’s value. Market cap comes mostly out of thin air because people believe a company is valuable. If they change their minds, it disappears.
(Market cap is estimated based on transactions that are a small percentage of market cap.)