Comment on You Used To Be Cool. Pfft, Sell Out

SeductiveTortoise@piefed.social ⁨2⁩ ⁨months⁩ ago

• Funkt4st1c@lemmy.world ⁨2⁩ ⁨months⁩ ago

  Shareholders need ever increasing value or they will sell their shares. In the US at least, it is illegal to not provide shareholders with value. The only way to reliably get value is to fuck over your customers at every turn and fire half of your employees every few years

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  • SeductiveTortoise@piefed.social ⁨2⁩ ⁨months⁩ ago

    That’s the reason we should get rid of publicly traded companies.

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    • wonderingwanderer@sopuli.xyz ⁨2⁩ ⁨months⁩ ago

      Then you would still have private equity firms fucking everyone over, but with even less regulatory oversight.

      I think publicly traded companies should be nationalized under an independent and thoroughly-audited oversight body accountable to the taxpayers, and any profits generated should be distributed to fund public works, social services, welfare benefits, and civil sector orgs.

      And the idea of infinite growth needs to be abandoned entirely. These major internet companies need to be viewed as a public utility, and their goal should be to provide stable, reliable, quality services rather than churn an endless profit. This can only be done after nationalizing them though.

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      • SeductiveTortoise@piefed.social ⁨2⁩ ⁨months⁩ ago

        One step after another, and don’t look down.

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      • teslekova@lemmy.ml ⁨1⁩ ⁨month⁩ ago

        We might be able to get the left-libs on board by using tax incentive structures and laws to make it way more attractive for big investors to seek steady profit levels, which would also reduce the necessity to nationalise companies. Windfall taxes are one way, where you take almost every piece of profit above a certain ceiling.

        Obviously we should still nationalise natural monopolies like Amazon and Google. Internationalise them, even.

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  • lechekaflan@lemmy.world ⁨1⁩ ⁨month⁩ ago

    The old is new again with same bastards in suits. Just like the 19th century railroad craze which had some hedging their money but then lost the investment game.

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  • grranibal@lemmy.zip ⁨1⁩ ⁨month⁩ ago

    Are you exaggerating with the “illegal not to provide value” part?

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    • Funkt4st1c@lemmy.world ⁨1⁩ ⁨month⁩ ago

      No. Like, go to jail illegal.

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      • grranibal@lemmy.zip ⁨1⁩ ⁨month⁩ ago

        I have no words besides “wtf”

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• tabris@lemmy.world ⁨2⁩ ⁨months⁩ ago

  In the word of Jim Stephanie Stirling, “They don’t just want a lot of money. They want all the money.”

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  • SeductiveTortoise@piefed.social ⁨2⁩ ⁨months⁩ ago

    See, this is why I would suggest to switch to the post-scarsity model of Star Trek. Then they can have all the money, but it’s completely worthless.

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    • smeenz@lemmy.nz ⁨1⁩ ⁨month⁩ ago

      Then why does quark charge latinum at the bar?

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      • SeductiveTortoise@piefed.social ⁨1⁩ ⁨month⁩ ago

        Because he’s not part of the Federation.

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• PhoenixDog@lemmy.world ⁨2⁩ ⁨months⁩ ago

  When you’re a Trillion Dollar company, you don’t need MORE money. You make enough to make everything run without additional income.

  But obviously a trillion dollars is still not enough. We need more.

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