Capital intensive industries are not necessarily knowledge intensive industries.

As economy develops, labor intensive industries give way to capital intensive industries.

That assets, A for assets, is equal to

So this is just another visual representation that

It doesn't sound like we borrowed money or anything.

It should start to make a little bit of intuitive sense

Surpassing labour intensive, capital intensive, the age has shifted greatly to knowledge intensive.

liabilities plus equity.

And then on the equity side, because we have no liability, so in this case assets will be equal to equity.

I'll do that in yellow.

You don't have to be an intellectual property expert to understand the difference between right and wrong.

But essentially what happened is the investors in the mortgage backed securities provided the money to the special purpose entity to essentially loan to the borrowers.

And we'll talk a little bit more about assets and enterprise value, and there's a little bit of a nuance there, but essentially the company itself.

liabilities plus equity is equal to assets.

And then the equity is, essentially we would look at this formula.

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

Starting with newspapers, what we saw was high cost as an initial requirement for making information, knowledge and culture, which led to a stark bifurcation between producers who had to be able to raise financial capital, just like any other industrial organization and passive consumers that could choose from a certain set of things that this industrial model could produce.

liabilities.

less capital intensive that there's less money that's required

But let's say its assets are worth 1 million.

So anyway, what happens in Chapter 11?

Howard Winklevoss founded a firm whose assets are in the hundreds of millions.

The Winklevi aren't suing me for intellectual property theft.

I have factory tools worth 500,000, and then that cash will go away.

But when I talk about the asset, I'm talking about only the operating assets.

Remember liabilities plus equities are equal to assets.

Forestry is popular, but there's a lot of waste.

So I'm going to give you a little equation, actually, just to take a little bit of a tangent.

My liabilities would be 145,000.

I use 100 gold pieces.

In this case, an EBlT might be a little bit more informative.

The automobile industry is one of the main industries in Japan.

Right?

Mmhm. It's a real estate investment.

And what is required is a combination of physical capital, institutional capital, human capital and security, of course, is critical, but so is information.

Your actions have resulted in the loss of a T888

These are my assets, and these are my liabilities.

Water resources are running low.

The kids make up the names of the countries some are rich some are poor.

Every year in France and around the world workers suffer and die from the health consequences of the normal functioning of this deadly industry. workers suffer and die from the health consequences of the normal functioning of this deadly industry. workers suffer and die from the health consequences of the normal functioning of this deadly industry. workers suffer and die from the health consequences of the normal functioning of this deadly industry.

And we have 23 billion in liabilities.

Japan is an industrial country.

That just comes out of the definition of what equity is.

And so liabilities plus equity is equal to assets.

I'll draw it a little bit bigger.