The Oldest Companies in The World
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- Опубліковано 28 чер 2024
- A study by McKinsey found that the average life-span of S&P 500 companies has fallen from 61 years in 1958 to less than 18 years today. McKinsey predict that, by 2027, 75% of the companies currently included in the S&P 500 will have disappeared.
So, What happens to these companies? Well, many will be bought- out, merged, and some will even go bankrupt like Lehman Brothers and Worldcom did. Some companies keep on going. General Electric, Exxon Mobile and Procter & Gamble are among the oldest large companies listed on the New York Stock Exchange. It is worth noting though, that age does not necessarily make a company any better. In fact, evidence from the stock market indicates that age is quite possibly a hindrance. Of the companies that have stayed in the S&P 500 for more than 60 years, only a minority have managed to beat the average over time. It is worth noting that the biggest companies today are quite young, companies like Apple, Microsoft, Amazon, Alphabet and Facebook. If the S&P 500 was made up only of the companies that were part of the index sixty years ago, overall index performance would have been around a third lower.
In Todays video we compare young vs. old companies and see if there are any lessons we can learn from the oldest companies in the world.
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0:00 Introduction
0:44 Stock market performance
1:26 Are old companies inefficient?
2:22 The oldest companies in the world
4:54 Are all old companies small?
5:33 Innovation & reinvention
7:50 How to stay innovative
8:33 Conclusion
Apologies for the reupload - The prior version of this video had become corrupted on UA-cam's server and when people clicked on it they got a message saying 'This Video can not play on your device'. UA-cam told me that they were trying to repair the file but after three days I gave up and reuploaded it.
No problems! Its a great video
Still love the video the second time :)
this one plays
I watched it again anyway you are so cool and I love succulents
Deja Vu.
4:30 - Japanese business owner: "You're a good employee. Would you like a promotion...to be my son?"
I made this comment on the original video and wanted to recreate the magic.
Mr. Boyle, thank you for your excellent work!
The video was good then, it's good now.
If you think that family conversation was awkward, imagine the one where the business owner had to tell his son that he is adopting a sibling for him and the sibling is getting the inheritance instead of him.
Patrick has impeccable style and deep financial wisdom. I love you ❤❤❤
Starship crash at 2:31 was absolutely savage. Love it.
Thanks Stephen, the video was very informative.
I truly appreciate that you take your time to make good content videos about interesting and educational stuff instead of making a ton of videos just for views
Who's binging on Patrick's videos right now? :D
mee mee mee!
Loving the channel and great videos. Well researched and clearly articulated.
Ah, you had me there. "A new video Monday morning, all is well".
This definitely deserves a new upload now.
I'm super glad you reuploaded this or I wouldn't have seen it, another top class video thanks!
Excellent content. Thanks for uploading.
Great video as alwas Patrick. I also found the history of Nokia fascinating in terms of an old Company which has changed so drastically, so many times over the years
VERY WISE AND ASTUTE MAN, PATRICK. KEEP 'EM COMIN' BRO!!!
Such concise and clear videos.
Underrated video! True gem!
Size can become an inefficiency...size can also be an increased efficiency, so it depends...
Some types of business costs remain almost the same or increase at a slower pace whether you serve one Customer or a million Customers.
I believe a key factor is whether an organisation manages to retain its ability to put good ideas to work, and ensure problems get attended to and resolved as it grows.
Hello Steven! Have an outrageously great weekend ahead! 😎
Awesome..
But a reload
Requesting a video on what long term amateur investors should learn to obtain professional returns
Love your content and insight. Btw you don’t blink much.
Hey Patrick, could you consider doing a video on inflation, its indicators and your opinion on the current state of inflation and/or the lack thereof
Thanks for the reupload Patrick. I did not come around to ask my question the first time, so here I am again. Given the recent company internal turmoil and the mild performance of its funds, is Ray Dalios book on your table supported by the theme of your video hinting to what I think it is hinting to?
It just arrived in the post around an hour before I shot the video. I have only read the first few pages so far, but look forward to digging into it. It gets great reviews.
@@PBoyle I know you've done a video on books you recommend reading but I for one would also be interested in hearing what books you currently are reading or have read in the past month. I suppose you are already giving this answer by having a few books next to you in each video but its too small for me to read the titles watching from my phone.... so an idea for your channel for the future would maybe to have the titles/authors of the books that are on your desk in the description when you upload new videos? (Coming from a Super Fan who can't get enough of learning from the wealth of knowledge you impart !!) THANK YOU FOR SHARING YOUR TIME & YOUR EXPERIENCE & WISDOM WITH US THROUGH YOUR CHANNEL!!!!!! ITS SOLID GOLD!!!
Please make a separate series with a real broker account of your choice with 1000$ dollars to invest in the stock market or forex!!!
It would be awesome to see how you would perform with your years of knowledge and trying to manage such a small account!!!
Hi Patrick, since you paid attention to Steven perhaps you’ll see me too 😃. Is there a chance I could get your books in epub form. I need to be able to increase the font size otherwise reading is a pain. Thank you, Horia
there is a 800 year old stock piece in stockholm museum on the stora enso company old copper mine
it was owned by a bishop
Im checking this video and getting dejavu about seeing it before😂😂😂lolz
I is did learned something today!
Hello Steven. I hope you are well.
One more time... with feeling!
Ayo Patrick! Im proud of your weight loss! You look handsome man
Hey Patrick! I see that you have Principles by Ray Dalio on the side. Are you planning on doing a video on his "Big Debt Crisis"? To be honest, I have that book and I haven't had much luck in understanding it.
Principles by Ray Dalio > Which parts don't you understand?
Go raibh mile maith agat! Another very informative video
Always better to be a big fish in a small pond than a big fish in a big pond.
Something like 9 of the 10 largest luxury brand companies in the world are over 150 years old! Think about in the context of this video. BTW most of those companies are European.
and mostly are still family owned
Sometimes, I feel like Patrick photoshopped his face onto a head & body... somehow pieced this up, as I have never ever seen his neck move. 🤔
Hi Stephen!
Getting on the bandwagon for a fast growing company that is a startup is like striking an oil well. The business can be sustained as long as oil remain an important commodity. Once oil is being replaced by alternatives, the company has to change the business model or sink. Stable businesses doesn't have to grow very much. As long as they generate enough profit to keep going for decades or centuries, everybody is happy. Some people prefer the faster short-term gains of innovative companies than the slower but more stable ones to maximize profit at a much higher risk of losing everything.
Is this a repost?
We all wish we could wear a suit like Patrick
i wached the video again even though i already know all whay been said before the first video
Interesting
Best in the game.
No mention of Beretta. A little disappointed
Well well well, if it isn't Patrick Boyle - Or should I say, Batrick Poyle?
why did you reupload the video tho 🤔🤔🤔
The old file became corrupted on UA-cams server and people were not able to see it.
Started watching an then was like, is this a rerun on UA-cam? Until I read hilighted comment.
Regardless, Hello to Stephen! I think he will appreciate this video. 😂
How about how far Patrick’s video skills have progressed since his time on UA-cam
What about doing something yourself on your own.
I will never forgive you for not even mentioning MAN SE, founded in the 1700s
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Hello Patrick. Just an idea for your next video. The US National Debt - where is it all going to end ? Or the UK National Debt seeing as they're both deep in the brown stuff. And the most amazing thing is nobody in govt seems to care how much debt they're getting us all in.
There is a course on macroeconomics on coursera.org by Gayle Allard "Understanding economic policymaking", where she discusses US debt and is it a problem at all.
@@MenchyshynOleh Thanks Oleh. Well it was a big problem for Greece when they could no longer borrow and I'm pretty certain it's going to be a big problem for the US and the UK once the debt gets too high and they can no longer borrow or repay their debts. I'm not sure where it's all going to end but I'm pretty sure it'll make 2008 look like small change and there will be no one big enough to bail them out.
Hello Steven.
I have a strong feeling of déjà vu.
Nintendo was formed in 1889 but had to wait until someone invented electricity before they could go public and show a profit.
Hi Stephen
Aw man you missed the opportunity to mention Nintendos brothel services :(
Hi Phteven
I'm in Royal Dutch Shell. 114 years old. The only way to stay big is by innovation and future insight. The shift from oil to clean energy (hydrogen, windturbines, solar panels etc.) is a great example of this.
Well, hello Steven....
Family owned private companies can prosper in the long term because they have long term goals than short term (one time) profits. they prefer manageable debts and consistent revenue streams. Not only that, they groom the next generation to overlook the company from "rogue" short sighted executives.
Either Cargill, Rothschild or Japanese traditional inns, the principles are still the same.
But ....they are not subject to the return on shareholder returns on a quarterly basis! Family companies just need to make a bit more than their bank rate to make a good living. Completely different. .
@@davidjma7226 no, some still have expected quarterly return especially the big ones, but family owned corporations are FAR more realistic on making the target than Hedge fund, investment fund or WS owned companies. Since their goals are mostly long term, and their primary/ultimate goal is just to survive in the long run. Unlike short term profit like ya'll in the Wall street Rat race with your golden parachute BS.
Family company doesn't have golden parachute scheme. If they fail, they fail as a family. So they know their stakes. Unlike many inept failed executives from the results of the employees rat race and office politics who can't even think for the next generation but themselves.
Not to mention that big public corporations who still have considerable family shareholders are far more resilience than their rat race platform companies in the listed stock exchange who are controlled by corporate raiders. Ford, Toyota, VW, Sumitomo Group, Mitsubishi group are still controlled by the founding family and all of them are far more resilience during crisis.
That's the most fundamental difference.
Hi Stephen 😁
Why is it so hard for youtube to stop fake accounts xD
Love you videos
Deja Vu
Hi Steven
Hi Steven
I am from comment section
I have a small business since 2012 and I’m still broke 😢 I’ve had enough
What busines?
@@annajones9701 HVAC ! What do you know ?
@@HelnoIaint ok, maybe outsource
@@annajones9701 from where another country ? Not likely I require skilled labour which is impossible now with free money everyone is getting
@@HelnoIaint what kind of work do you do in HVAC?
I wonder was the oldest company in Italy.
I want to buy calls on this channel
Might it not be plausible that there are exactly zero correlation between company size survivability, it could simply be explained away by there being relatively more small companies then large. Also I think the analysis of the surviving companies suffer from strong hindsight bias\overfitting.
Wait, they have to disown their biological parents?
Donno why but the sound is crap on this one
boeing.... why....
Hi Stephen!
Hi Stephen
Hi Stephen!
Hi Stephen!