You own an entire pie.
You can sell the pie for $10. You get $10 in your pocket.
But now the pie gods can create 25% more pie.
However, your part of the pie does not grow.
So when the pie gods sell the pie for $10, you now see 25% less.
So now instead of receiving the full $10, you only receive $7.50.
You have been diluted by 25%.
kapeesh?
or is that ka-pie
Ann: Letter to Shareholders & Notice of Annual General Meeting, page-164
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