Now what's our mantra of this day and age I wonder?

And the equity holders get wiped out, the old equity holders.

It's the split of just the equity part right over here

In the next step, we built the network around these companies, so we took all the TNCs' shareholders, and the shareholders' shareholders, etc., all the way upstream, and we did the same downstream, and ended up with a network containing 600,000 nodes and one million links.

What kind of fugitive?

So what did we find after computing all this network control?

Ownership has its privileges.

He still owns 7 of the company.

I'm the sole shareholder.

The shareholder's meeting was held.

And it's been a great motivator.

And if there wasn't enough money to pay all of the debt holders, then the equity holders got nothing.

Yes, I'm a stockholder.

He'll be impaired a little bit.

So 5 million of liabilities.

I don't give it to my employees.

Not the old shares.

liabilities plus equity.

Should Shareholders Be Kings?

In a world without leverage so if I didn't have all this

And then each of these guys would get 5.00.

because they're both on the right hand side.

But it's really a measure of the same thing.

liquidate it.

But they come back.

This is the building.

I own the controlling stock of the Messenger.

Handing the reigns to aa stump!

Uh,we were wondering about one of frobisher's shareholders.

Do you know who the biggest shareholder is?

The board of directors of a firm is essentially elected by the shareholders.

Shareholders voted to liquidate the company's assets.

Our equity is equal to 300 gold pieces.

I owe these people that money is 700 and my equity is 300.

Ruined Aoki, too.

And then this is the day that he says, you know what?

So essentially, whoever lent Loan C, all of these shares are now their shares.

Shareholders are going to go after the rest of Frobisher's fortune.

They have investors, they have shareholders. Shit like that.

So, remember, assets are equal to liabilites plus shareholder's equity, so if all of a sudden the market value of the equity, the market capitalization, for Ben's shoe company is 215,000... (That is the equity part right over here)

And who lost here?

But then the banks will come back with new equity.

And it gets even more extreme.

I use 100 gold pieces.

And whatever's left, people are paid with actually shares new shares of the company.