> Instead, it is stockmarkets outside America to which investors have been dashing. So far this year Europe’s Stoxx 600 index has risen by 12% in dollar terms, and Germany’s dax by 19%. The Hang Seng, which includes many Chinese firms listed in Hong Kong, is also up by 19%.
That is one article I read from The Economist[1] but it doesn't tell how much money actually moved out. I will look for some hard number later.
It made a lot of really good choices in the late 90s when a lot of dot-com companies started and a lot of people around the world started getting interested in making their own websites. It eventually snowballed to the LAMP stack which became the most user friendly way of doing stuff on the web on low budget. The inertia from this is massive so it's staying for a bunch more years.
Owners made half a billion and got high-ranking positions at the buyer.
Buyers bought it because they had a very specific problem that the product was designed to solve, and thought that it would be a competitive advantage to deny the solution to their competition. On paper, it was a good decision.
> A lot of people treat economics as though damage didn't happen unless someone acknowledges it.
This is what I call the TV effect. People are trained from an early age, by consuming media, to only construct what is "real" by what is announced. And it's not just economics, but all sorts of aspects of life.
