Friday, July 22, 2011

Apple’s Cash Hoard Exceeds GDP of 128 Countries

Apple’s Cash Hoard Exceeds GDP of 128 Countries, article.
Apple has more than US$76.2 billion in cash as of the June quarter, and The Wall Street Journal reported on Wednesday that this was more than the gross domestic product (GDP) of 128 countries, according to data from the World Bank that we verified. [...] 
There are a myriad of other reasons making the comparison stupid, at its worst, and inappropriate at best, but it is fun, and many may even find it sobering.

Holeeeeeh sheeeet!

It reminds me that guys like William Gibson have been talking about for many years how power is moving from the old artificial entity of countries, to the new, arguably less artificial one of corporations.
Gibson talked about how he'd become less cynical over the years, since corporations want to keep their customers alive and healthy for their business.
And I had to agree. If you look at world history, the trend of countries/governments have been to sooner or later wipe out not only other peoples, but even their own people. So why it's hard to like corporations, I actually think we might feel safer with them in power.

Some people feel that there is something innately immoral in extreme wealth. But then I also heard a very good argument: that the economic miracle of the western world, even more than the industrial revolution, is due to law and order overtaking the feudal system, meaning that if you got rich, you stood a good chance of keeping it! Before that, why would anybody bother to make an effort?


TC [Girl] said...
This comment has been removed by the author.
TC [Girl] said...

(try that, again)

Here's another "little trivia shocker." Quite amazing to think about as well!