Key insights
- The article uses Google's IPO as a historical reference point to discuss the difficulty of adjusting financial thinking to inflation and the subjective value of perspective, particularly in the context of AI. While referencing a significant past event, it lacks direct forward-looking indicators for current US equity markets, thus having a neutral influence.
When it comes to inflation, you might be able to do the new math, but I say that's a danger because you can't change your financial thinking or your emotional money ideas fast enough or thoroughly enough. I remember movie tickets for 12 cents and gas at 23 cents a gallon, but so what? Is Google's $80 billion stock sale trivial or vital? Remember that Google’s original initial public offering (IPO) on August 19, 2004, raised a total of $1.67 billion in capital, giving the company an initial market valuation of $23 billion. I have no fixed opinion on AI, but I do know the perspective is worth more than intelligence.