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…]

Missile Defense

Missile defense is one of those technologies that has the potential to dramatically destabilize certain aspects of warfare. Back in the 1980s, when Ronald Reagan began his fixation on “Star Wars” ballistic missile defense, wiser heads pointed out that: a) it’s really hard b) if it did work, it would mean the US was setting itself up to “win” a nuclear war.

[Read more…]