> All established companies that have been net positive
On what metric? I just showed you JPMorgan has an equity value a quarter of its liabilities. JPMorgan is not insolvent.
Comparing liabilities to market cap doesn't tell you about solvency per se, it tells you about leverage. It tells you whether a solvency problem could be solved by selling equity. Not if there is a solvency problem.
alt Hacker News
> All established companies that have been net positive
On what metric? I just showed you JPMorgan has an equity value a quarter of its liabilities. JPMorgan is not insolvent.
Comparing liabilities to market cap doesn't tell you about solvency per se, it tells you about leverage. It tells you whether a solvency problem could be solved by selling equity. Not if there is a solvency problem.