A 17th-century Dutch trading firm sold public shares and became the first multinational

historyWikipedia1602–1799 · Netherlands

A 17th-century Dutch trading firm sold public shares and became the first multinational

the gist

The Dutch East India Company, founded in 1602, was one of the first companies to sell shares to ordinary investors, and those shares traded in open markets that later became the Amsterdam Stock Exchange. It held a 21-year monopoly on trade in Asia and could wage war, strike its own coins, negotiate treaties and found colonies. It sent nearly a million Europeans on 4,785 ships and dominated the spice trade through most of the 17th century. It paid dividends averaging about 18% of its capital for almost 200 years, but smuggling, corruption and rising costs led to bankruptcy, and it was dissolved in 1799.

how it works

Shares could be bought by any citizen of the Dutch Republic and resold in open-air markets, so investors could sell without the company being dissolved. That liquidity made the shares a tradable asset, a core idea behind modern stock markets. Because the company held state-like powers, it could act as merchant and government in distant ports at once.

so what

The company combined trade, investment and state power, which is why it is often called the world's first multinational corporation. Its open share market helped establish financial practices still used today. Its story shows how early capitalism and colonial power were tied together.

fun fact

Its Asian headquarters, Jayakarta, was renamed Batavia in 1619 and is now Jakarta.

Hampi was once one of the world's largest cities, until its Vijayanagara capital was destroyed in 1565

the gist

Hampi is a UNESCO World Heritage Site in Karnataka, India, with more than 1,600 surviving remains spread over 4,100 hectares. It was the capital of the Vijayanagara Empire from 1336 to 1565. Travellers from Persia and Portugal described it as a prosperous, wealthy and grand city with temples, markets and farms along the Tungabhadra River. By 1500 it was estimated to be the world's second-largest city after Beijing, and probably India's richest at the time. In 1565 a coalition of Muslim sultanates defeated the Vijayanagara Empire, its capital was conquered and destroyed, and the city was left in ruins. Hampi remains a religious centre, with the active Virupaksha Temple at its heart.

how it works

The city was built around a fortified core with temples, markets and water structures along the river, supplied by an extensive network of roads and waterworks. When the empire fell, the city was not rebuilt, so its stone monuments were left standing.

so what

Hampi shows how quickly a great city can vanish after a military defeat, and how a ruined capital can remain sacred. Its ruins give historians a view of medieval South Asia that few other sites can match.

fun fact

The name Hampi comes from Pampa, an old name for the Tungabhadra River.

From Wikipedia, the free encyclopedia · text CC BY-SA 4.0

Image: Wikimedia Commons

source: Wikipedia ↗

2 min

politicsshortCNA2:01

False allegations about Singapore’s hand in Indonesia’s markets and a made-up meeting

from CNA

CNA Verify has found close to 400 posts pushing falsehoods tying Singapore to Indonesia’s stock market rout and to a secret meeting that never took place. Together, they drew nearly 12 million views, and some were circulated by accounts that appeared to be working in concert, across multiple social media platforms.

Here’s how the disinformation campaign targeting Singapore was uncovered.

on YouTube: CNA ↗