Where’s The Value?

So I don’t know how I feel about this or maybe I do. 

The Wall Street Journal reports today that from the 10 largest companies by market capitalization:

1) The top 3 are technology companies

– Apple $679B

– Alphabet (Google’s Parent) $489B

– Microsoft $422B

2) Moreover, a full 5 (half) of the top 10 are technology companies

That includes the 3 above and the other 2 below:

– Facebook $288B

– Amazon $280B

As a technology person, I am thrilled at the impact that IT has on our society. 

We are no longer the same thanks to our Apple iPhones, Google Search, Microsoft’s business tools like Outlook, Office and SharePoint, Facebook’s social networking, and Amazon’s online shopping. 

But to think that these information capabilities outweigh by value everything else in society that we need as people is somewhat astounding.

For example, the other 5 of the top 10 companies are:

– Exxon Mobil (Oil and Gas) $346B 

– Berkshire Hathaway (Insurance, Utilities, Clothing, Building Products, Retail, Flight Services) $340B

– General Electric (Power and Water, Oil and Gas, Energy Management, Aviation, Healthcare, Transportation) $298B

– Wells Fargo (World’s Largest Bank) $280B

– Johnson and Johnson (Pharmaceuticals) $278B

So when you add these behemoths up–this is what we have:

The 5 top technology companies are worth $2.158T

Vs.

The top 5 traditional companies from all the other industries combined are worth only $1.542T

Net it out:

The largest representative IT companies are worth $616B or 40% more than the other major companies combined.

(In fact, just the top 3 IT companies at $1.56T are worth more than the top 5 other companies at $1.542T.) 

Sure IT growth has been on a tear for the last couple of decades and we love everything futuristic it brings us. 

But isn’t it a little scary to think that the companies that meet all our other needs from food, clothing, shelter, medicine, transportation, energy, finance, retail, etc. isn’t worth more to us than just the IT alone. 

Perhaps adding it up from a value perspective just doesn’t add up in a real life perspective. 

I love technology and want more and more of it, but man does not live by technology alone. 😉

(Source Photo: Andy Blumenthal)

Pain Relief – SUPER SIZED!

This was funny at CVS today.

The “value size” extra strength Tylenol (equivalent)–1000 pills!

Think about it that’s something like 500 headaches…

It reminded me when I worked in the financial service industry in New York City.

The Comptroller of the corporation has a mega size bottle of aspirin right on the front of his desk when you walked in.

It was clear he was quite S~T~R~E~S~S~E~D out.

From a personal branding perspective (my wife is the expert at this), I would imagine that this is not the image you would want people to have of you all the time.

Anyway, pain relief for some is a very big bottle of Tylenol and for others a nice bottle of wine or some time at the beach. 

My father used to tell me the joke, “If I have to give up wine, women, or song…I’ll give up singing!” 😉

(Source Photo: Andy Blumenthal)

Work Life IMBALance

Mental, emotional, and physical health often feeds off of maintaining a good balance in life.

Yet, the financial services industry has been notorious for making people work unearthly hours, but also paying them unG-dly sums of money, especially in end-of-year bonuses.

I remember reading the other year that the average bonus at Goldman Sachs was something like $750,000!

The price people pay for this is work, work, and more work (and like in the film, Wall Street, often some very unscrupulous behavior as well).

Many people get apartments down by Wall Street, so when they stroll out of the office at 1 am (maybe that’s a good night), they can get to their place and clock a few hours of sleep before it’s back to the office–in record time.

Does the wealth accumulation and perhaps early retirement make it worth it–I guess to some people it does.

Today, the New York Times reported how financial firms like Bank of America (BOA) Merrill Lynch is perhaps seeing the ill effects of this misguided “human capital strategy.”

Finally, they are now encouraging people to “take four days off a month” and we’re taking about weekends.

That still leaves you with 6 days a week of work and typically 90 hours per week in the office!

Anyway, this is what they call being “committed to making the work experience better.”

This is coming off the heels of a 21-year old intern at BOA that died last Summer in the office “after working three consecutive nights” even though they attributed the death to epilepsy.

Work is good and healthy, except when it’s extreme and not. Work-a-holism is a disease and money is at the root cause.

It’s great to be committed to the organization, mission, people and to doing your best, but it’s another to sacrifice your soul, health, family and friends, and other interests that make you a well-rounded person.

Ambition is healthy, greed is deadly–and if you have to come up with three lemons to see that, then it may be too late. 😉

(Source Photo: Andy Blumenthal)