[DoodleBob]

Remember GE? Remember IBM? Remember all the other big, bad firms that were going to rule the world?

Remember how lots of people said "but it's different this time"?

And then it wasn't different that time.

The bottom line, is that nothing lasts forever in business. Sure, Twitter and FB etc may be big now, but firms get cocky, over-confident, fat, bloated, and flatulent, and then they get knocked out by upstarts or new industries or better providers of products and services. The Invisible Hand (of God) is more powerful than any government.

If you don't want to watch the video, here is a summary of the top five over time:

2019:

1. Saudi Aramco
2. Apple
3. ICBC
4. Samsung Electronics
5. Microsoft

2014:

1. Fannie Mae
2. Vodafone
3. ICBC
4. Gazprom
5. Apple

2009:

1. ExxonMobile
2. Royal Dutch Shell
3. Gazprom
4. Chevron
5. Nestlé

Now, net income/profit is different from market capitalization; the former is an accounting calculation of revenue-expenses, while the latter is share price*outstanding shares.

To be sure, on this metric or market cap, the 'big tech' firms are on top...for now...for today's winners are tomorrow's losers. Look at years prior in this picture or this video: capitalism forces firms to adapt or die over time:

It's easy to feel like Twitter, FB, Alphabet, and Amazon will rule the world. And, to be sure, in the medium-term they will wield power and (as we see now) abuse that power.

And then, they'll be a footnote in economic history.

[monkeyshine]

I knew Apple would be on the list. Forgot Saudi Aramco just went public but there is some doubt about their real value (assets being quantity of oil underground it owns/leases). ICBC is a Chinese Bank, they may indeed be very profitable but there are a lot of shenanigans in Chinese accounting.

[locofoco]

Somebody is artificially keeping FB and TWitt afloat- there is no way these companies are profitable in the future and 1/2 of the population hates them.

Besides, they are lame. Only grandma and grandpa uses them. They make me think of dentures an AARP. Finally they are vulnerable to the next big thing which they are not.

Apple, unfortunately with cook in charge, is a solid company into the future. Hopefully Garmin or some other company will add some true competition. Google is not just misguided, but evil, everyone knows it and that is its albatross.

[a fool in paradise]

Twitter lost money for it’s first decade. And yet the CEOs are billionaires.