4 ms·

correct, Wells Fargo's market cap is 267 billion, 30% bigger than Facebook. They can pretty much do whatever they want

StavrosK 12y ago
Hah, it's funny that the place that handles your money is only worth 30% more than the place you chat with your friends.
- gohrt 12y ago
  Good. They should be handling my money, not skimming it.
- cookiecaper 12y ago
  To be fair, Facebook and other recent social IPOs are grossly overvalued.
  - dasil003 12y ago
    Plus their "market"-share is significantly higher than Wells Fargo's.
  - AJ007 12y ago
    To be fair, banks may also be grossly overvalued. Their market valuations are entirely dependent on large government bailouts (although Wells Fargo was certainly in good shape relative to their peers in 08.)
    - Alupis 12y ago
      > Their market valuations are entirely dependent on large government bailouts Hasn't been the case for years (and I'm pretty sure it was never the case actually). They are valued by their assets (funds in accounts, real estate holdings, equity in companies/investments, etc). Facebook's valuation appears to be based on nothing but magic.
    - rbanffy 12y ago
      > although Wells Fargo was certainly in good shape relative to their peers in 08 And this is the most ridiculous thing in those bailouts. You manage responsibly and competently and, in return, you get government funded competition. There should be a better way.
    - tripzilch 12y ago
      > To be fair, banks may also be grossly overvalued. In other words, such valuation of a big corporation has little to do with the direct utility to, or meaning for a single individual. It's like a red blood-cell wondering why the eye is so highly valued compared to the liver.
  - baddox 12y ago
    Which, as always, is a completely meaningless claim.
scarmig 12y ago
They can do whatever they have the internal capacity to decide to do. They're richer than Facebook, sure. But at many non-tech companies, spending tens or hundreds of millions of dollars to build a solid library is simply not in the cards. (Why should we spend so much on engineers? All they're doing is slapping together some HTML, my nephew in high school does that!)
- namityadav 12y ago
  Surely WF's needs with YUI-fork (or any other similar library) will be limited enough that they'll need to hire just one or two developers. I don't see how they'll need to spend hundreds (or even tens) of millions of dollars to build a solid library. I don't think even Yahoo has spent that much on YUI in total.
Alupis 12y ago
> correct, Wells Fargo's market cap is 267 billion, 30% bigger than Facebook. When did Facebook become the benchmark? Facebook is tiny compared to an awful lot of companies.

Hah, it's funny that the place that handles your money is only worth 30% more than the place you chat with your friends.

gohrt 12y ago
Good. They should be handling my money, not skimming it.
cookiecaper 12y ago
To be fair, Facebook and other recent social IPOs are grossly overvalued.
- dasil003 12y ago
  Plus their "market"-share is significantly higher than Wells Fargo's.
- AJ007 12y ago
  To be fair, banks may also be grossly overvalued. Their market valuations are entirely dependent on large government bailouts (although Wells Fargo was certainly in good shape relative to their peers in 08.)
  - Alupis 12y ago
    > Their market valuations are entirely dependent on large government bailouts Hasn't been the case for years (and I'm pretty sure it was never the case actually). They are valued by their assets (funds in accounts, real estate holdings, equity in companies/investments, etc). Facebook's valuation appears to be based on nothing but magic.
  - rbanffy 12y ago
    > although Wells Fargo was certainly in good shape relative to their peers in 08 And this is the most ridiculous thing in those bailouts. You manage responsibly and competently and, in return, you get government funded competition. There should be a better way.
  - tripzilch 12y ago
    > To be fair, banks may also be grossly overvalued. In other words, such valuation of a big corporation has little to do with the direct utility to, or meaning for a single individual. It's like a red blood-cell wondering why the eye is so highly valued compared to the liver.
- baddox 12y ago
  Which, as always, is a completely meaningless claim.

scarmig 12y ago

They can do whatever they have the internal capacity to decide to do. They're richer than Facebook, sure. But at many non-tech companies, spending tens or hundreds of millions of dollars to build a solid library is simply not in the cards. (Why should we spend so much on engineers? All they're doing is slapping together some HTML, my nephew in high school does that!)

namityadav 12y ago
Surely WF's needs with YUI-fork (or any other similar library) will be limited enough that they'll need to hire just one or two developers. I don't see how they'll need to spend hundreds (or even tens) of millions of dollars to build a solid library. I don't think even Yahoo has spent that much on YUI in total.

Alupis 12y ago

> correct, Wells Fargo's market cap is 267 billion, 30% bigger than Facebook. When did Facebook become the benchmark? Facebook is tiny compared to an awful lot of companies.