For the past few decades, we have been building a world without borders, creating supply chains

在過去的幾十年裡，我們一直在建立一個沒有邊界的世界，創造了供應鏈

across the globe to bring down prices and improve the quality of life everywhere.

在全球範圍內降低價格並改善各地的生活品質。

However, the global pandemic put an end to our dreams and wishes of building a planet

然而，全球大流行病結束了我們建立一個地球的夢想和願望。

without borders.

無國界。

Overnight, everything crashed, and the world was on the brink of an economic catastrophe.

一夜之間，一切都崩潰了，世界正處於經濟災難的邊緣。

However, the absolute opposite has happened.

然而，發生了絕對相反的情況。

2020 was one of the best years ever.

2020年是有史以來最好的年份之一。

Companies earned billions of dollars, the business thrived, and nearly 500 people became

公司賺取了數十億美元，業務蓬勃發展，近500人成為

billionaires during the pandemic.

在大流行病期間，億萬富翁。

The pandemic created more billionaires than anything else.

這場大流行創造了更多的億萬富翁，而不是其他任何東西。

The wealth changed hands.

財富易手。

Industries that were seen as scams like crypto created some of the biggest billionaires ever.

像加密貨幣這樣被視為騙局的行業創造了一些有史以來最大的億萬富翁。

Bitcoin skyrocketed 800% between mid-March 2020 and mid-March 2021, while Ripple's XRP

比特幣在2020年3月中旬至2021年3月中旬期間暴漲了800%，而瑞波公司的XRP

rose 200%—nine new members of the three-comma club have emerged.

增長了200%--三個逗號俱樂部的九個新成員已經出現了。

The richest is 29-year-old Sam Bankman-Fried, who has amassed an $8.7 billion fortune as

最富有的是29歲的薩姆-班克曼-弗裡德，他已經積累了87億美元的財富。

the founder of two crypto firms.

他是兩家加密貨幣公司的創始人。

The wealth constantly changes hands, even when a single stock is traded.

財富不斷地易手，即使是單一股票的交易。

If you purchased a stock low and sold it high.

如果你低價買入一隻股票，高價賣出。

Remember that someone sold it to you when it was low and bought it from you when it

記住，有人在低價時把它賣給你，在低價時從你那裡買下它。

was high.

很高。

This is a small example of how wealth changes hands.

這是一個關於財富如何易手的小例子。

A big example is the pandemic when people panicked and sold billions of dollars worth

一個大的例子是大流行病，當時人們驚慌失措，出售了價值數十億美元的

of stocks but ended up regretting it since everything boomed afterward.

的股票，但最後後悔了，因為後來一切都蓬勃發展。

Or when people got too excited and began to buy crypto, for example, back at the end of

或者當人們過於興奮，開始購買加密貨幣時，比如說，早在去年年底

2021 and beginning of 2022.

2021年和2022年初。

However, people who anticipated the crash closed their positions, made fortunes, and

然而，預計到崩盤的人關閉了他們的頭寸，發了大財，並且

let the rest bleed.

讓其他的人流血。

When we talk about wealth, most people think of either real estate or the stock market.

當我們談論財富時，大多數人想到的是房地產或股票市場。

That's what we usually mean when we talk about investing.

這就是我們在談論投資時通常的意思。

These 2 markets are undoubtedly some of the biggest in the country, with a real estate

這兩個市場無疑是該國最大的一些市場，其房地產

estimated at USD 3.69 trillion in 2021.

2021年，估計為3.69萬億美元。

The New York Stock Exchange, which is one of our many stock exchanges, has an equity

紐約證券交易所是我們眾多的證券交易所之一，它有一個股權

market capitalization of just over 27.2 trillion U.S. dollars as of March 2022.

截至2022年3月的市值剛剛超過27.2萬億美元。

That's a lot of money.

那是一大筆錢。

No wonder why so many people are becoming wealthy through real estate or the stock market.

難怪有那麼多人通過房地產或股票市場致富。

However, if you look at the numbers, private businesses make up over 44 percent of the

然而，如果你看一下數字，私營企業佔到了44%以上。

U.S. economy.

美國經濟。

As of 2022, the size of the U.S. economy is 23 trillion dollars, with a T.

截至2022年，美國的經濟規模為23萬億美元，有一個T。

That means private businesses are worth over 10.12 trillion dollars.

這意味著私營企業的價值超過10.12萬億美元。

You don't hear much about them because, unlike public companies, they are not obligated to

你很少聽到關於它們的消息，因為與上市公司不同，它們沒有義務向公眾披露。

publish their financial statements every quarter, so no one except those who run the company

每個季度都會公佈他們的財務報表，所以除了那些經營公司的人之外，沒有人知道。

actually knows how big these companies are and how they are performing.

實際上知道這些公司有多大，它們的表現如何。

Koch Industries is one of the country's biggest companies that belong to the Koch brothers,

科氏工業是該國最大的公司之一，屬於科氏兄弟。

who are some of the wealthiest people in the world.

他們是世界上一些最富有的人。

If we value Koch industries like we value Apple, for example, the world's largest company,

如果我們像重視蘋果公司那樣重視科赫產業，比如說世界上最大的公司。

then it is worth 1.2 trillion dollars.

那麼它的價值是1.2萬億美元。

In 2020 apple made a staggering revenue of 274 billion dollars and was worth 3 trillion

2020年，蘋果的收入達到驚人的2740億美元，價值3萬億美元。

dollars, while Koch industries made 115 billion dollars.

美元，而科氏工業則賺了1150億美元。

If we value the companies based on their revenue then Koch industries made 40 percent of what

如果我們根據公司的收入來估價，那麼科氏工業所賺取的40％的

Apple made.

蘋果公司製造。

But, that's not how we value companies.

但是，這不是我們評價公司的方式。

At the end of the day, Apple is a tech company that focuses on innovation and theoretically

歸根結底，蘋果是一家專注於創新的科技公司，理論上來說

will make much more money in the future than Koch industries that focuses on traditional

未來將比專注於傳統行業的科氏行業賺更多的錢。

business.

業務。

However, at the end of the day, if we take everything at face value, Koch industries

然而，在一天結束時，如果我們從表面上看一切，科赫行業

made almost half the revenue that Apple made.

賺取的收入幾乎是蘋果的一半。

It is just a small example of how much money is made by private companies that we don't

這只是一個小例子，說明私營公司賺了多少錢，而我們沒有

often hear about.

經常聽說。

Take another example, Cargill, a food conglomerate.

再舉個例子，嘉吉公司，一個食品集團。

From an outsider, it looks like a boring business, but the company made a staggering 134 billion

在外人看來，這似乎是一門無聊的生意，但該公司卻賺到了驚人的1340億

dollars which is almost what Microsoft made in 2021 ( $168.088B), a company that's worth

美元，這幾乎是微軟在2021年的收入（1680.8億美元），這家公司的價值是1680億美元。

over 2 trillion dollars.

超過2萬億美元。

These are just 2 examples out of many private companies that are earning dozens of billions,

這些只是許多私營公司中的2個例子，這些公司正在賺取幾十億的收入。

if not hundreds of billions of dollars annually.

如果不是每年數以千億計的美元。

And according to Forbes, some experts estimate that somewhere between $30 trillion to $68

據《福布斯》報道，一些專家估計，在30萬億美元到68億美元之間

trillion dollars will be shifted from baby boomers, people born between 1946 and 1964,

萬億美元將從嬰兒潮一代，即1946年至1964年之間出生的人手中轉移。

to Generation X (1965-1980) and millennials (1981-1996).

到X一代（1965-1980）和千禧一代（1981-1996）。

Which means we are on the brink of the largest wealth transition in human history.

這意味著我們正處於人類歷史上最大的財富轉型的邊緣。

Most of that wealth is about to change hands.

這些財富中的大部分即將易手。

The problem is that it's really difficult to pass your wealth to someone when that wealth

問題是，當你的財富被傳給別人時，真的很困難

exists because of your leadership and management.

因為你的上司和管理而存在。

Amazon is worth over a trillion dollars because Jeff Bezos surrounded himself with brilliant

亞馬遜的價值超過一萬億美元，因為傑夫-貝佐斯身邊有很多出色的

people and led the company to dominate e-commerce.

人，並帶領該公司在電子商務領域佔據主導地位。

Now, since he stepped down and some other top executives, it remains to be seen how

現在，自從他和其他一些高層管理人員下臺後，還有待觀察如何

the company will perform in the coming future.

該公司在未來的表現。

But if we are to look into the history, most companies stagnate when the charismatic leader

但是，如果我們研究一下歷史，大多數公司都是在有魅力的領導者的時候停滯不前。

leaves the company for one reason or another, except for a few examples such as Apple.

由於這樣或那樣的原因離開公司，除了少數例子，如蘋果。

Just take a look at the sp500 companies over the years.

看看這些年來的sp500公司就知道了。

40 years ago, at&t was the top Sp500 company, but today is worth just 150 billion dollars,

40年前，at&t是Sp500的頂級公司，但今天的價值只有1500億美元。

which is a small fraction of the largest sp500 company, Apple.

這只是最大的sp500公司--蘋果公司的一小部分。

Or G.M., an American icon that was the largest automaker in the United States and was the

或G.M.，一個美國的標誌，是美國最大的汽車製造商，是

largest in the world for 77 years until losing the top spot to Toyota.

在輸給豐田之前的77年裡，該公司一直是世界上最大的汽車公司。

The company represents America's car industry by producing cars such as Chevrolet and Cadillac.

該公司通過生產雪佛蘭和凱迪拉克等汽車代表美國的汽車工業。

Until the 1980s, the company was on the list of the top 10 sp500 companies.

直到20世紀80年代，該公司還在前10名sp500公司的名單上。

However, today, it's a shadow of its former glory, with a valuation of just 50 billion

然而，今天，它是其昔日輝煌的一個影子，估值僅為500億。

dollars.

美元。

A fraction of Tesla's 750 billion dollar valuation.

特斯拉7500億美元估值的一小部分。

These are the largest companies in the U.S. 10 or even 5 years from now.

這些是10年甚至5年後美國最大的公司。

This list is going to be different.

這份名單將是不同的。

Some of these companies won't even be in the list of 100 largest companies because the

其中一些公司甚至不會出現在100家最大公司的名單中，因為

world is yet again in the brink of another change.

世界又一次處於另一場變革的邊緣。

The pandemic has already shocked the world.

這種大流行病已經震驚了世界。

The war in Ukraine is creating supply chain problems, and the unpredictability of the

烏克蘭的戰爭正在造成供應鏈問題，而且不可預測。

future is creating room for new companies to compete with giants of the industries.

未來正在為新公司創造與行業巨頭競爭的空間。

I wouldn't be surprised if some crypto companies or more energy companies will join the list

如果一些加密貨幣公司或更多能源公司將加入名單，我不會感到驚訝

but not Exxon, chevron or PB.

但不是埃克森、雪佛龍或PB。

But rather those that are developing technologies to extract cleaner sources of energy.

而是那些正在開發技術以提取更清潔的能源的人。

Energy and money are the two industries that shape our society, and both of these industries

能源和貨幣是塑造我們社會的兩個行業，而這兩個行業都是

are in the middle of the greatest transformation.

正處於最大的轉變之中。

Oil is witnessing its last golden decade.

石油正在見證其最後的黃金十年。

The war in Ukraine has sent shock waves across the world that if we don't invest in alternative

烏克蘭的戰爭在全世界掀起了驚濤駭浪，如果我們不投資於替代的

energy sources, we are doomed!

能源，我們是註定要失敗的!

So, there is definitely going to be huge investings in solar, nuclear and other sources of energy.

是以，肯定會對太陽能、核能和其他能源進行大量投資。

That's where the wealth is most likely going to transition to.

這就是財富最有可能過渡到的地方。

In fact, it has already started.

事實上，它已經開始了。

That's why Tesla alone is worth more than Exxon and chevron combined.

這就是為什麼僅特斯拉的價值就超過了埃克森和雪佛龍的總和。

Another industry that is reshaping is the financial industry.

另一個正在重塑的行業是金融業。

Once upon a time, the Mayer Amschel Rothschild sent his 5 sons to 5 capitals of the world

很久以前，梅耶-阿姆謝爾-羅斯柴爾德把他的5個兒子送到了世界上的5個首都

and built the largest financial institution in the world, which as a result, made the

並建立了世界上最大的金融機構，其結果是使

Rothschild family the wealthiest family in the world.

羅思柴爾德家族是世界上最富有的家族。

But in the late 19th century and the beginning of the 20th century, companies like JP Morgan

但在19世紀末和20世紀初，像JP摩根這樣的公司

and Goldman sacks broke that monopoly and replaced them as the leaders in banking and

和高盛集團打破了這種壟斷，並取代他們成為銀行業的領導者。

finance.

財務。

But now, the status quo is challenged again by cryptos that are reshaping the industry

但現在，現狀再次受到正在重塑行業的加密貨幣的挑戰

and making it possible to move millions of dollars in a pen drive from one country to

並使數百萬美元的筆式驅動器從一個國家轉移到另一個國家成為可能。

another without any government's knowledge.

在任何政府不知情的情況下，另一個國家的人也會這樣做。

Of course, the government is tightening its rules on crypto, but you either adapt to the

當然，政府正在收緊對加密貨幣的規定，但你要麼適應

new reality or fall behind.

新的現實，否則就會掉隊。

The world's biggest banks are trying to get into crypto, but they won't be able to stop

世界上最大的銀行正試圖進入加密貨幣，但他們將無法阻止

the newcomers.

新來的人。

Coinbase's peak valuation was around 75 billion, almost as much as Goldman sacks today.

Coinbase的峰值估值約為750億，幾乎與今天高盛的麻袋一樣多。

It's difficult to predict which companies exactly will dominate the world, but they

很難預測究竟哪些公司將主宰世界，但它們

are undoubtedly going to be in these 2 sectors.

毋庸置疑的是，這兩個部門都會有。

That's it for this video.

這段視頻就到此為止。

Thanks for watching, and until next time.

謝謝你的觀看，直到下一次。