Capital: Valuations and Market Caps 101

In 1999, I became a millionaire on paper by selling shares in a company that I had created for the express purpose of selling the shares. That ought to sound bizzare to you, and it is – it’s one of the weirdest parts of corporate capitalism. The entire thing feels like a scam, except that the money is very real, or it’s not, depending on what happens.

[Read more…]