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I think if you want to say "1/30th of the size", you should say that. Growth is usually measured as a difference. For example, a 200% increase means the value has tripled.

essentialy yes

But "30x" is just another way of saying "3000%". Or, "3000%" is just another way of saying "30x". "Shrinking by 30x" means the same thing as "shrinking by 3000%".

Huh. Downdooted without explanation for correctly explaining how percentages work. Not something I expected on HN. Never change, interwebs!

30x doesn't seem to mean 3000% but means 30 times original value.

If I had starting capital of 100 usd and it increased by 20x then that means I gained 2000 usd which is 20x of my starting capital.

EDIT: correction 30x is same as 3000%.