Does anybody know the process for these companies being involved? Did somebody ring around and organise this, or does word just get around and companies request involvement, or something else?
Amicus brief on behalf of 97 tech companies
31–40 of 221 posts
Re: Amicus brief on behalf of 97 tech companies
#32Earlier quoted context omitted.
It's hard to compare market caps to GDP because GDP is kind of like "aggregate value of everything produced this year" while a market cap is "estimated total profits for a company from now until the end of time." So you might have a company like Walmart with $200b in market cap but ~$500b in annual revenue (3% of GDP by itself!) and $15b in net income. On the other hand there are companies like Adobe with $60b market…
Fair points, both you and akiselev; thanks for the clarification I am not an especially economically-(or even really quantitatively) inclined person; I just see GDP bandied about as a metric of "size of economy" and market cap as "value of company". Revenue is probably locatable if someone wants to dig into quarterlies... I probably spent too much time on this exercise already
Here's a very, very rough ballpark estimate based on your data:
- $2.7T in market cap
- let's say average P/E ratio is 25 (P/E is approximately the ratio of company valuation to annual profits)
- let's say the profit margin of a typical tech company is 20%
- let's say 40% of a typical tech company's revenue is in the US
Estimated US revenue of the companies in your spreadsheet: $2.7T / 25 / 0.20 * 0.40 = $216b (about 1.5% of GDP, which is still huge)
By the way, I think your initial estimate of the total market cap of companies signing the brief is quite useful and informative, it just shouldn't be compared to GDP :)
Re: Amicus brief on behalf of 97 tech companies
#33I don't know what Americans are protesting about. I don't agree with the bans at all but at least you have a president who is true to his words for once - For me that is a higher moral value. You have to take the good with the bad. I don't agree with Trump on a lot of things but I can respect a politician who does what he says he'll do. It's a refreshing break from the typical Washington charlatans who don't do anyth…
Most politicians do in fact do what they say they will. It's not actually rare.
Re: Amicus brief on behalf of 97 tech companies
#34I don't know what Americans are protesting about. I don't agree with the bans at all but at least you have a president who is true to his words for once - For me that is a higher moral value. You have to take the good with the bad. I don't agree with Trump on a lot of things but I can respect a politician who does what he says he'll do. It's a refreshing break from the typical Washington charlatans who don't do anyth…
Being true to your word doesn't mean you have to immediately send out an order with no planning, preparation, or consultation.
Re: Amicus brief on behalf of 97 tech companies
#35I don't know what Americans are protesting about. I don't agree with the bans at all but at least you have a president who is true to his words for once - For me that is a higher moral value. You have to take the good with the bad. I don't agree with Trump on a lot of things but I can respect a politician who does what he says he'll do. It's a refreshing break from the typical Washington charlatans who don't do anyth…
> I don't agree with Trump on a lot of things but I can respect someone who does what he says he'll do. Adolf Hitler was also keeping his promise of eliminating the Jewish "problem" or the lack of the living space for the Germans. Does this increase your respect to him? Of course this is overblown, and Trump is not Hitler. But we should learn our lessons rather than repeat the errors of the past.
Good ol' Godwin's law, I've missed you
Re: Amicus brief on behalf of 97 tech companies
#36Earlier quoted context omitted.
Makes sense as Elon is a Trump advisor. Also interestingly missing: Amazon.
I believe Elon Musk is playing (once again) the ultra-long game. He is betting that the court system as well as Congress will limit Donald Trump and his cronies from doing something that is grounds for impeachment - and so Donald Trump will be in office for the entire term. Given this, it makes sense to be in a position that has at least a tiny bit of influence on Trump. Amazon has a similar position: they need large…
when was last time an EO was ground for impeachment?
Re: Amicus brief on behalf of 97 tech companies
#37I don't know what Americans are protesting about. I don't agree with the bans at all but at least you have a president who is true to his words for once - For me that is a higher moral value. You have to take the good with the bad. I don't agree with Trump on a lot of things but I can respect a politician who does what he says he'll do. It's a refreshing break from the typical Washington charlatans who don't do anyth…
I don't agree with Trump on a lot of things but I can respect a politician who does what he says he'll do
Like release his taxes? Your memory seems selective.
Re: Amicus brief on behalf of 97 tech companies
#38Earlier quoted context omitted.
Musk might outsmart us all, but by going down to that crossroads in Clarksdale, he does not, and will not, outmoral a slug.
Morality is like an ass - everybody has their own. Musk wants to see a self sustaining, fossil fuel free civilisation, and a backup off site. I'm not saying it's morally right, in fact it might be straight out of Machiavelli ideas, but you are right in that it's a long position.
Morality, stripped of religious connotations, is just about what is good and bad. If you think fossil fuel independence and Mars colonization are good things, those are moral statements.
Re: Amicus brief on behalf of 97 tech companies
#39Earlier quoted context omitted.
Makes sense as Elon is a Trump advisor. Also interestingly missing: Amazon.
I believe Elon Musk is playing (once again) the ultra-long game. He is betting that the court system as well as Congress will limit Donald Trump and his cronies from doing something that is grounds for impeachment - and so Donald Trump will be in office for the entire term. Given this, it makes sense to be in a position that has at least a tiny bit of influence on Trump. Amazon has a similar position: they need large…
Amazon was one of the first to file their brief - in the original lawsuit. Bezos has no problem rocking the boat & actually wrote one of the stronger worded condemnations in the industry.
Re: Amicus brief on behalf of 97 tech companies
#40Earlier quoted context omitted.
I believe Elon Musk is playing (once again) the ultra-long game. He is betting that the court system as well as Congress will limit Donald Trump and his cronies from doing something that is grounds for impeachment - and so Donald Trump will be in office for the entire term. Given this, it makes sense to be in a position that has at least a tiny bit of influence on Trump. Amazon has a similar position: they need large…
Amazon was one of the first to file their brief - in the original lawsuit. Bezos has no problem rocking the boat & actually wrote one of the stronger worded condemnations in the industry.
Bezos has been trolling trump using what used to be a respectable publication called Washington Post for about 14 months now ?