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TOKYO (AP) — Japan has slipped to the world’s fourth-largest economy as government data released Thursday showed it fell behind the size of Germany's in 2023. Japan fell from the second-ranked economy behind the U.S. to the third-largest in 2010 as China's economy grew. The comparisons among nations’ economies look at nominal GDP, which doesn’t reflect some different national conditions, and is in dollar terms. Japan’s nominal GDP totaled $4.2 trillion last year, or about 591 trillion yen. The gap between developed countries and emerging nations is shrinking, with India certain to overtake Japan in nominal GDP in a few years, Okazaki said.

Persons: Germany’s, Japan’s, Tetsuji Okazaki, ”, Okazaki, Konosuke Matsushita, ___ Yuri Kageyama Organizations: TOKYO, —, Monetary Fund, Japan, University of Tokyo, Honda, Honda Motor Co, Panasonic Corp, Japan Inc Locations: — Japan, Japan, Germany, India, U.S

☆ $800,000 tuna to be turned into sushi at Michelin-starred restaurant
▼ + stars: | 2024-01-06 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Read previewA bluefin tuna sold for 114.2 million Japanese yen, or nearly $800,000, at Tokyo's largest fish market is set to be served at a Michelin-starred restaurant in Japan. The prized tuna will be enjoyed by diners at the Michelin-starred sushi restaurant Onodera in Tokyo's upmarket Ginza district, reported The Japan Times. Media crowd around as a 524 pound bluefin tuna - which was purchased earlier in the day for $788,440 at the first tuna auction of the New Year in Tokyo on January 5, 2024. The world record price for a tuna was set in 2019, when the sushi tycoon and "Tuna King," Kiyoshi Kimura, paid $3.1 million for a 612-pound fish. AdvertisementDerek Wilcox, a chef trained in Japan and who worked there for 10 years, previously told Business Insider that bluefin tuna was "the most sought after."

Persons: —, Hiroki Matsushita, Yukitaka Yamaguchi, Bluefin, RICHARD A, BROOKS, Kiyoshi Kimura, Kimura, Derek Wilcox Organizations: Service, Michelin, Bloomberg, Business, Onodera Group, Japan Times, Media, Getty, Japan National Tourism Organization, AFP, Oma Locations: Japan, Aomori Prefecture, Ginza, Tokyo, AFP

☆ It’s official: Silicon Valley’s entire business model is a scam
▼ + stars: | 2023-07-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +13 min

The problem is, conservative economists at the University of Chicago have spent the past 50 years insisting that under capitalism, predatory pricing is not a thing. Predatory companies could never recoup their losses, which meant predatory behaviors are irrational. Lots of economists have come up with solid counter-counterarguments to the Chicago School's skepticism about predatory pricing. A company that engages in predatory pricing and its late-stage investors might not recoup, but the venture investors do. "If people in Silicon Valley start thinking about this as a predatory pricing scam, then I think the late-stage investors will start asking questions."

Persons: Matt Wansley, Wansley, we're, Uber, Cardozo, Sam Weinstein, gobs, you've, —, Brooke, Spencer Waller, Matsushita, Weinstein —, Justice Department —, it's, Weinstein, Matt, that's, Will Uber, Waller, David, Maurer, they've, Adam Rogers Organizations: Lyft, Big Tech, Cardozo School of Law, Justice Department, University of Chicago, Chicago School, Supreme, Matsushita Electric Industry Co, Zenith Radio Corp, Brooke Group, Brown & Williamson Tobacco Corp, United, Loyola's School of Law, Venture, Matsushita, VCs, Chicago, Loyola, pharma, aha, Wansley Locations: United States, Chicago, Silicon Valley, Silicon

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