That’s just a wee bit.
That’s a nice increase over the $5.43 billion reported last quarter, but those numbers were actually revised after last December’s announcement that its smartphone division would shut down. At the time, the company had $6 billion in funding that year, making this year’s numbers a bit over $6 billion. Maybe its numbers were a bit overblown, but the company’s cash reserves were $2.2 billion.
That’s a bit less than half the $20 billion at its peak in 2005.
The bottom line is that many of the big financial services firms have started to raise capital, which is a great source of buzz for investors but not as much for analysts or investors in this market. The iPhone made it so that analysts could say: “Hey we have all-in again.”
But who wants to buy one of those super high-end phones? You might be able to find a guy named Chris Jones with a pair of fancy jeans who would just go easy on himself by buying at the $1,000 mark and starting to drive himself to sleep.
I’m talking, for starters, about Chris Jones the co-founder of Facebook, who bought his $300 stake in the tech company a few years back after spending a decade with Google. He became convinced that the only way to get money out of companies were to go to the high-end stores and buy the right stuff. And this was true even before he started selling himself the phones. (Facebook’s website reports that Chris Jones is now “finance president & CEO at B2C Asset Management”)
Just look at how far I’ve come in the last 30 years. If you can make money in an investment business, these guys did. There is an amazing set of rules around investing in companies, even among tech and real estate titans. The idea is to get money that pays you in some sense, rather than making a profit on it.
Most companies have an entire system of accounting systems, which are run by the corporate, and you’ll likely see some sort of a set of rules. If you live in the New York area and are going to pay a corporate tax rate of 30%, you need to report some sort of “income” on your return which is the amount you earn as a stockholder, which is the amount of your dividends you get while you’re alive, and some other kind of tax to fund your retirement. The business or investment business actually has a much simpler set-up. (It’s a simple system of business taxes. They’re not so much a government expense as an income tax. At the core, it’s a lot more about what you made, and how much you’re making, but at the same time, it’s a good way to keep track of the money you make.)
This article originally appeared in Bloomberg.