It had the king himself on the board. The company value represented a decent fraction of the national gdp at the time. All without actually never producing anything of actual value. It was just bribes and speculation all the way through. It's wild.
https://en.wikipedia.org/wiki/South_Sea_Company
Extra History did a more easily digestible series, which was how I learned about it in the first place. https://youtu.be/k1kndKWJKB8
The company's market-cap was almost 3 times national GDP
It's dubious because whereas a year's worth of GDP has some claim to actually being the value of something (with many caveats but it's engineered to behave like that as much as possible), market cap isn't. It's the amount all the shares would cost if someone bought them all in one go for the price some shares were most recently purchased for, which would never happen.
And the fact that in the entire BSSTC shareholder universe, there wasn't any noticeable volume for a sell, or a registered sell limit, at a lower value leading up to the last peak.
That must have been a rough trade, but someone got something out at the last moment.
https://bsky.app/profile/ronfilipkowski.bsky.social/post/3m7...
What 4/5yr term govt can turn off or replace their OS?
This is not really to fault them. I see the company as far more mature than Tesla. They've cultivated a brand that works well for them. This is also not intended to be a criticism of Palantir investors, there are many reasons to invest, and even if you subscribe to the above that is of course your right! Many people invest for ideological reasons, myself included, and that's fine.
It's fine if you don't mind losing your shirt.
For us normal people, we invest to try and grow the money we've saved for the future (in my case, for my retirement), so investing in a company whose stock is insanely overvalued is a great way to blow up my pension pot.
I don't understand the rationale behind "investing for ideological reasons", can you explain it?
Can’t people just retweet Karp on X if they want to “support Palantir ideologically”?
This is GME all over again.
That's actually a pretty reasonnable ask for a tech company, if you believe Palantir can grow to the level of FAANG.
15^(1/35) = 1.11
1500^(1/35) = 1.34
Did the author maybe put a few extra zeros in their calculator when figuring out the annual revenue growth which would equal 15x over a 25 year span?
Ridiculous statement. If you're actually investing your money in a company then you need to run the numbers, it's the most basic kind of due diligence you should do.
That puts them in a precarious situation when the political winds change
