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I am old enough to know how cool it was to be a millionaire. Where is all that money (billions) coming from? Who had it before, governments?


In this case, public markets. Public companies are flush with cash and finding few places to park it to gain a positive return. Acquisitions, stock buy-backs, and similar are ways to juice overall return. Intuit gains a recurring revenue stream and access to hundreds of thousands of small businesses, which is their bread and butter.


Scale. There are 7 billion people on the planet.

Get 1/100 of them to pay you 10$/month and you have 7 billion dollars / year.


Banks can create money by typing numbers into a computer. The Fed has recently created trillions.




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