I would not consider the investment as a % of market cap since Google doesn't own all that market cap...
I would consider the non float shares + short term investments + cash on hand or Revenue/Profit better
> I would not consider the investment as a % of market cap since Google doesn't own all that market cap.
Market cap does matter because you can use it to gauge how easily Google could hypothetically raise the same amount[1] by issuing additional shares without a shareholder revolt.
Not seeing how that distinction matters. Google’s owners (shareholders) do own all that. And google represents the collective financial interests of the shareholders.
Market cap does matter because you can use it to gauge how easily Google could hypothetically raise the same amount[1] by issuing additional shares without a shareholder revolt.
1. Or complete an all-stock deal or acquisition.