Interesting take. Economists often discuss debt and liabilities without a proper balance sheet lens on assets and equity. The reminder that healthy companies can run negative equity (like some well-known names) is a good one — it’s not always a warning sign. Context matters a lot when it comes to AMC Entertainment, GameStop, Bitcoin treasury plays, and any company trading at high valuations but carrying heavy debt, liabilities and dilution risk. For me it reinforces the value of looking at the full picture — fundamentals, risk, and context — rather than getting caught up in incomplete narratives when assessing opportunities or dangers in the markets.