What matters here isn't technical capital, it's social capital.

Malibu Equity and Investments.

I forget all the different qualities of debt.

One is the question of education.

Malibu Equity and Investments. Roger Van Zant.

Nothing like the resources of a CERN or a DARPA or an IBM or a Dupont.

He has a sociable disposition.

Only members of the company are entitled to use the facilities.

It's already immersed in social networks.

You are not entitled to attend the meeting.

This is my legacy.

That the market just because of how this guy has capitalized his company if they just apprised a superficial price to earnings of 10 to both companies, it's willing to say that this asset is worth 279,000, and this asset's only worth 210,000, even though they're identical assets!

So obviously there's no two companies that are identical in this way, but let's say that they are.

The explanation of that paradox is that, within our societies, we're looking at relative income or social position, social status where we are in relation to each other and the size of the gaps between us.

We're starting to sell electric cars, which is great.

But in fact that's not why they went extinct.

The definition of slavery

So let's see, I have my assets right here.

It was a marriage meeting.

In 1996, in November, we formed the company Purple Moon which was a spinoff of Interval Research, and our chief investors were Interval Research, Vulcan Northwest,

The key to all this is reinforcing civil society.

So, we're going to understand positive social emotion

Social, physical, intellectual...

The organization strips Muntz of his membership.

Cats are social animals.

It's not autobiographical identities.

And then, then, then, and then ...

If it had 10,000 shares, and actually both of the shoe companies had 10,000 shares, then the market is essentially valuing the equity of Ben's shoe company at 215,000, even though the book value of the equity was 135,000.

Why don't we form human social networks that look like a regular lattice?

Well, the argument I'd like to make is that networks have value.

Let draw it so I don't get ahead of myself.

Then a lot more people said, well these are super safe.

Moody's is one of the ratings agencies, and they rate

That's simply not true.

It will dry up inside.

The other way in which our genes can sometimes lead us astray is in social status.

They ended capitalism and built a socialist society.

Aristotle has a point.

Man is a social animal.

So this is a huge practical problem.

Mr. Rainsford, please sit here.

Those are the types of things that you will look at and feel.

The bank accommodated the company with a loan.

A lot of them might have some debt. So let's say that company had 10 million of assets, but

But what is most important here is, who do we finance?