A video chat is now more valuable than the world's largest oil producer
Zoom recently passed Exxon in total market cap
The world is definitely changing.
I remember the days when Exxon Mobile was the largest and most valuable company on the planet, well maybe not largest, but definitely most valuable.
It wasn't all that long ago actually.
The days when GE and Microsoft and Exxon were the big boys on the block.
Well now a tech darling has passed Exxon in terms of total market cap, check it out:
My how the mighty have fallen!
Zoom has only been trading for a littler over a year at this point.
This is all thanks to the pandemic and evidence that the transition from the industrial age to the digital age is full under way.
There are all sorts of these tech companies that are now passing the industrial heavyweights.
The pandemic didn't advance technology, but it forced us to start using what was already there.
I read something the other day that said the pandemic sped up tech adoption by roughly 10 years.
On that note, stay out of oil plays all together, the sun is setting on them.
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