> Maybe the same idea now with bay area house prices in units of FAANG shares. It's interesting how this holds up so well across time. The Byzantine historian

> Maybe the same idea now with bay area house prices in units of FAANG shares. It's interesting how this holds up so well across time. The Byzantine historian Michael Attaleiates [1] was writing in the 11th century how the increase in the price of grains (which, in that particular case, was caused by the nationalisation and centralisation of grain delivery by the Byzantine State) was also causing an increase in the base salary demanded by the Byzantine demos and, most importantly, by its soldiers. Presumably grains were a fundamental "economic unit" (for lack of a better term) for Byzantium, as cows are for Zimbabwe and as real estate is for SV. [1] https://en.wikipedia.org/wiki/Michael_Attaleiates https://en.wikipedia.org/wiki/Michael_Attaleiates