Comment

Comment on A billionaire wrote this letter to Google a year ago. How likely is that Google's layoffs and actions since then are at least partly because of this?

iAvicenna@lemmy.world ⁨9⁩ ⁨months⁩ ago

I read his wikipedia article and I must say I was somewhat confused. He does not eat meat, he advocates urgent action on the climate crisis and has given over billions to children’s investment fund (don’t know if this is a good charity or not). And yet he is an asshole enough to ask a company to fire tens of thousands of employees so his investments are more profitable on short term.

source

Sort:hotnew top

96VXb9ktTjFnRi@feddit.nl ⁨9⁩ ⁨months⁩ ago
The Children’s Investment Fund Management (TCI) is not a charity, it is a hedgefund. Even this letter was sent on behalf of TCI. They’re apparently one of the most activist investors out there. And not activism in a good way, their only focus is maximizing profits. So activism means: demanding lay-offs, doing unsolicited take-overs of other companies, etc. And then after a few years dumping the company again. They themselves probably have all sorts of thoughts about how they play an important function in an economy because they are ruthless and force changes in the markets. To put ‘children’s’ in the name is just a scam that aims to make them sound innocent. But just this fact tells you a lot about how these people operate. Source: en.wikipedia.org/…/The_Children's_Investment_Fund…

source
- jaybone@lemmy.world ⁨9⁩ ⁨months⁩ ago
  The Human Fund
  
  source
- iAvicenna@lemmy.world ⁨9⁩ ⁨months⁩ ago
  Yes though initially it was contractually giving certain parts of its profit to children’s fund foundation which existed before TCI and was a charity. After his divorce though the contractual donation was apparently cancelled. The aims written for the foundation all look nice but very vaguely termed and I don’t know to what effect were they able to (or try to) achieve it.
  
  source
ikidd@lemmy.world ⁨9⁩ ⁨months⁩ ago
You can put whatever you want on Wikipedia. You don’t think PR firms have longterm Wikipedia editors on retainer for this sort of thing?

source
- iAvicenna@lemmy.world ⁨9⁩ ⁨months⁩ ago
  Yea, I am sure that happens all the time but I don’t really wanna dismiss a piece of information without any further evidence just because of my priors. That is why I posted it here to see if anyone has seen other stuff about this charity which I have heard for the first time.
  
  source
Chestnut@lemmy.world ⁨9⁩ ⁨months⁩ ago

he thinks that it is healthier and would make him live longer (typical billionaire)

I’m pretty sure there are a lot of people who aren’t billionaires who do this. I’m not sure “wanting to live longer” is necessarily a billionaire exclusive trait

source
- iAvicenna@lemmy.world ⁨9⁩ ⁨months⁩ ago
  Yea for sure but I think you miss my point. I am wondering whether if he is a vegetarian because he cares about the environment and animals or just because he thinks it is healthier.
  
  source