Comment on [deleted]
kabobglance@infosec.pub 10 months ago
Some classes don’t need to work, they hire others to invest their resources or can just live off their resources
Comment on [deleted]
kabobglance@infosec.pub 10 months ago
Some classes don’t need to work, they hire others to invest their resources or can just live off their resources
SuddenDownpour@sh.itjust.works 10 months ago
This is the question you have to make. Mark Zuckerberg might certainly be working over 40 hours a week, but, could he maintain his level of life if he stopped working altogether, and started living from the profits of Meta? Without a level of doubt, yes.
The middle class, as a concept, did make sense when it did refer to small business owners whose income generated by work and whose income generated by capital was somewhat comparable, and even if their quality of life would be deteriorated if they stopped working, that was certainly a choice they could take.
Nowadays, “the middle class”, as it is used in mass media, is a feel-good concept to make working people feel satisfied about the fact that they’re not “the poor”. Sometimes you will even see people who have difficulties to live paycheck to paycheck who still live in the conceptual place of “the middle class”. It is no longer used as a sociological category, but rather, an ideological one.
ziggurism@lemmy.world 10 months ago
Zuckerberg owns %14 percent of the 2.5 billion shares of the trillion dollar company.
Yes, he could retire and live off a slice of the profit for the rest of his life. But that’s nothing. Anyone with a few tens of thousands of shares of a healthy company can do that. That massively understates the scope of his holdings.
Facebook could never turn a profit again. Revenue could fall off a cliff. And Zuck could borrow against the value of his assets to get paid handsomely for the rest of his life.
Heck he could shut down Meta and liquidate the company for pennies on the dollar and still have more money than most people see in 100 lifetimes.
kucuva@lemmy.world 10 months ago
I realize my question is a bad one to begin with, to answer it you have to put people in classes. I looked up the companies with the reenue in the world, facebbok or meta is not even on that list, walmart is #2. Buying groceries and stuff is more a necessity than online services entertainment or not, so that makes sense. Then, I looked up richest companies by net worth (which is made up anyways, revenue is actual amount you’re getting if you take away its “worth” tomorrow) Meta still isn’t the richets company in this sense, but Apple and Amazon are pretty high on the list. en.wikipedia.org/…/List_of_largest_companies_by_r… …usnews.com/…/most-valuable-companies-in-the-worl…