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JumpCrisscross • today at 6:10 AM • 0 replies • view on HN

> 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.