The Dutch East-India Company – Apple Didn’t Have Nothing On It!
The “Vereenigde Oostindische Compagnie” (VOC), better known as the Dutch East-India company was set up in 1602, head-quartered in the “Oost-Indisch Huis” (East-India House) in downtown Amsterdam – which still stands today. It was founded as a private merchant company that was granted a two decade long monopoly by the government for spice trading in Asia, in particular the Dutch East-Indies, known today as the Republic of Indonesia.
And if you think Amazon is thrifty with deliveries – the VOC sent over one million voyagers across Asia, which is more than the rest of Europe combined, in a time where a trip from Amsterdam to Batavia (Djakarta) would last no shorter than 8 to 10 months and many ships, or individual passengers, would never return. Many of the massive sailing ships perished in storms, fell prey to piracy or infectious disease. Traveling at the time came at a huge risk, but once on location and with the right knowledge and attitude there was a great chance of becoming wealthy and so many took the risk.
The company was also the first official company to issue stocks, which peaked during the Dutch “Tulip Mania”, a craze for tulip bulbs that is seen as the world’s first true financial bubble. The VOC’s stocks pushed the company’s worth to a massive 78 million Dutch guilders, which is a pretty solid business even today, but translates to a whopping $7,9 trillion dollar worth today… Yes, really, trillion. That’s 7,900 billion – or 79,000 million!