I intentionally mixed the financial companies, because they are all run by 'money people.' That's the whole point. Did you actually think that was a mistake?
The goal of banks is to make money by doing all sorts of things, from trading government paper, to providing liquidity to businesses (credit), to issuing standard loans, to issuing mortgages, to taking standard deposits, to issuing more complex CDs, to issuing credit cards, and on and on. There's no inherent definition limitation, it's up to the banks and the regulators to decide.
The goal of all of those entities I listed is to make money. They're all publicly traded corporations.
A more apples to apples comparison? What are you talking about? The point is to note the fact that there's A LOT more profit in big tech than in big finance.
>The goal of all of those entities I listed is to make money.
No its not.You obviously know enough about this topic, yet you make this dubious claim. The goal is to be in the black to not go in the red. That's a very specific accounting goal, look it up.
> The point is to note the fact that there's A LOT more profit in big tech than in big finance.
Please dude. Apple isn't taking that "LOT more profit" and subdividing it among its employees, yeah ? Whereas when you run a tiny hedge fund and take in a tiny $7m, that turns into a tiny $2m windfall for you personally. Lot easier to do if you have the skills, and certainly a lot more lucrative.
The goal of banks is to make money by doing all sorts of things, from trading government paper, to providing liquidity to businesses (credit), to issuing standard loans, to issuing mortgages, to taking standard deposits, to issuing more complex CDs, to issuing credit cards, and on and on. There's no inherent definition limitation, it's up to the banks and the regulators to decide.
The goal of all of those entities I listed is to make money. They're all publicly traded corporations.
A more apples to apples comparison? What are you talking about? The point is to note the fact that there's A LOT more profit in big tech than in big finance.