And what is required is a combination of physical capital, institutional capital, human capital and security, of course, is critical, but so is information.

That assets, A for assets, is equal to

But we'll do a whole playlist on that.

And then on the equity side, because we have no liability, so in this case assets will be equal to equity.

less capital intensive that there's less money that's required

It should start to make a little bit of intuitive sense

I'll do that in yellow.

One, what shares are share of

liabilities plus equity.

I use 100 gold pieces.

And then the equity is, essentially we would look at this formula.

It's a holy war against Muslims.

In a world without leverage so if I didn't have all this

So this is just another visual representation that

It doesn't sound like we borrowed money or anything.

Good health is his capital.

You know, skiers pray for snow?

One for breakfast, then two or three for a lunch...

liabilities.

So now it's getting interesting.

Rust is gradually eating into the metal parts.

This book deals with the invasion of the Romans.

But let's say its assets are worth 1 million.

In return on equity, the numerator is the net income that we got, so it's 350,000.

Capitalist country.

It's a simple formula eat food.

So he owns it outright so all of the 100,000 of asset value is actually his equity.

All you can see is a little bit of erosion down here by the Sun, has these solar storms, and that's erosion by solar radiation.

So let me do that in a vibrant color.

That's 11,000.

Let me do equity in a different color.

It's all his equity.

Well, I have 250,000 left over.

Remember liabilities plus equities are equal to assets.

How much equity do they have?

My liabilities would be 145,000.

I believe we should have the right to choose where we live.

So 26 billion of assets minus 23 billion of liabilities means that we have 3 billion of equity of shareholders' equity.

Let's figure it out. It's equity.

You love your heroes.

liabilities plus equity is equal to assets.

These are assets.

Right?

Let's assume that they're not for now.

Mmhm. It's a real estate investment.