Wednesday, February 14, 2018
This Tells You a Lot About Today's Economy
Washington-based Amazon has displaced Washington-based Microsoft to become the world's third largest company (by market valuation).
Here are the current standings;
1. Apple - $849 billion
2. Google - $746 billion
3. Amazon - $ 702 billion
4. Microsoft - $699 billion
5. Facebook - $521 billion.
Boeing, which chose to leave Washington for Chicago, comes in at a paltry $205 billion.
By contrast, Canada's top 3 are banks: RBC, TD and Bank of Nova Scotia, at $113, $102 and $74 billion (Canadian) respectively. Pretty small potatoes and not an innovator or tech giant among them. Hewers of wood, drawers of water and bank tellers. Great.
The other thing worth noting is that Amazon and Microsoft are Washington state companies. Apple, Google and Facebook are based on California. It's all west coast. All of it. The five biggest companies, not just in the U.S., in the world.
While Amazon and Microsoft combined tally $1.4 trillion USD in value, all other public companies in Washington state account for just $400 billion in value.