If you have money you'll make money. It's all bullshit. Valuation and stocks and trends... It's all made up nonsense created to make sure the rich remain rich and Walmart employees remain on food stamps. Why we aren't constantly protesting or better yet destroying this system is beyond me. I guess the bulk of you assume one day you'll benefit from this system of suffering so you keep it in place just in case. Fuck.
this post was submitted on 03 Feb 2024
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Why we aren't constantly protesting or better yet destroying this system is beyond me.
When you're burnt out at your shitty job that barely covers your needs it's hard to revolt. Which is of course by design.
I think if you're just scraping by then you have more to lose immediately than is worth the risk compared to what you might gain eventually.
I want to destroy it so bad. But my kids are able to sleep peacefully and night and have full bellies. Will the power vacuum we create ensure that survives? Even if I don't?
I'm glad your kids get the comfort and safety this capitalistic nightmare provides, but many kids don't.
Help me organize against citizens united and I'll follow you into the 10 hells. Until then, its just me versus the capitalists that control my life. Thats the mode we all exist in right now. Because I really do know that doing nothing curses them.
The reason people aren’t protesting in not some fantasy that they’ll benefit from it one day but that they will fall under the weight of capitalism’s heavy hand if they get recorded protesting and get fired or get a sick day and get fired and lose everything. The reason that the wealthy don’t want a safety net is not just because they hate the poor (they do) but because they have control over a population of workers who live in fear of the economic meat grinder. The system is so much more cynical and cruel than I would have imagined possible.
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I think people are afraid to lose what they even, especially when it isn't much.
This is my opinion, but I think protest is worthless unless the people protesting show that they are willing to give up somethingsomething important to get what they want. I don't think we'll make progress until people are willing to give up the status quo for a better future. The mind hates uncertainty, so even shitty future that's predictable is more desirable than a possible better, but uncertain future.
The middle class came into existence because people that would never be a part of it were willing to give their lives for it. Many did. If we are not willing to sacrifice our safety and secure future for a better life we may never experience, we will make no progress.
I think we should skin him alive slowly on television as an example to the rest of them.
Maybe a little extreme. He'd have to be naked for that.
I guess we could cut his junk off first to avoid being inappropriate. Gotta think about the children.
"You have to understand, most of these people are not ready to be unplugged. And many of them are so inert, so hopelessly dependent on the system that they will fight to protect it."
We can destroy it but that's also discomfort. Your quality of life will likely go down, and if not you, for many as this battle ensues.
I bet you, like me, enjoy leaving the stress of work behind at the end of the day and turning on Netflix, or whatever your vice is, instead of skipping work, and my extension your pay, and not being able to afford the comfort of eating a dinner and watching Netflix after work.
Not everyone is at a point they're infuriated enough to revolt. A revolution is the only way anything is going to change.
The "temporarily embarrassed millionaire."
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If I made 29B in one morning, I’d fuck off and will never be heard of again in the news.
Hell, if I got 1/1000th of that I would do the same lol.
Isn't that crazy? Any one of us would have more money than we knew what to do with, with only 1/1000th of his profits today. That's how tipped the scales are in capitalism these days.
I remember learning recently that if we magically confiscated 99.9% of the wealth of the top 100 richest people in the world, all of them would still be in the top 0.01% of the world's population wealth-wise.
Just insane.
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The 29B would go away if he fucked off, and probably then some.
It's not actually real money, it's estimated net worth based on stock ownership in Meta, of which Mark Zuckerberg is a large enough shareholder to have his actions directly impact its perceived value.
If he quits today, the stock likely tanks. Making an exit and keeping the money in his position is a complicated and delicate affair.
If he quits today, the stock likely tanks.
If he quit today I'd immediately buy the stock.
He's the sole reason I don't own it and never have.
They have some of the best engineering talent among the big players, but he's kind of terrible at product vision and historically supposed to be a micromanager.
As an example, I recall discussing a dislike button with an employee a decade ago. No public indicator, just telling the algorithm "I don't like this" to balance the public "I like this". Allegedly, that was infamously a no-go from the very top.
Fun fact: when training an AI on data, the gold standard is to have both positive and negative reinforcement metadata.
I've often wondered what it would have been like to be a fly on the wall when his ML engineers were explaining to him just how valuable it would have been to have over a decade of both signals from billions of people when they were shifting gears into competing with OpenAI/Google on AI.
Pretty much what the founder of MySpace but I think back then he made a lot less than 29B
Eat the rich. Regulate monopolies
beautiful and moral
Monopolies LOVE regulations.
Unless the EU makes them, in which case it actually does something(GDPR, DMA)
Yes! They use their monopoly money to buy rules that suit their needs!
i hate capitalism
Meanwhile, I lost $4 in my $10 investment of a random bank. I'm so bad at investing.
Pretty much everyone is bad at picking stocks. You should just stick to index funds.
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$29 billion of monopoly money, this money is pure speculation
Jup, people don't realize that he needs to sell Facebook to realize these gains. And pay tax on that. At this level of wealth, companies are not about earning money but having influence and power.
He doesn't need to sell, no.
It's collateral for a low interest loan.
Look up "buy borrow die" on a search engine.
This is the best summary I could come up with:
Mark Zuckerberg’s net worth increased by more than $28 billion between your morning coffee and your lunch break.
The Meta founder and CEO — who is already worth more than $140 billion, according to Bloomberg’s billionaire index — has cleaned up from Meta’s share price skyrocketing over the past day, after the company announced its first-ever cash dividend program.
Zuckerberg owns about 350 million shares of the company, according to the US Securities and Exchange Commission
Unless he sells or buys more shares of company stock, and assuming the quarterly dividend remains at the same level, Zuckerberg will also gain off of the company’s dividend payouts to the tune of approximately $700 million per year.
This upswing plasters over potential harm to Meta stock after Zuckerberg, alongside other social media company heads, testified Wednesday before the Senate Judiciary Committee about the risks their products pose to young people.
Zuckerberg apologized to the parents in attendance, who say their children were victims of social media.
The original article contains 323 words, the summary contains 164 words. Saved 49%. I'm a bot and I'm open source!
Step 1: Layoff thousands of employees,
Step 2: Buy back your stock in order to juice the numbers before earnings
Step 3: Utter the word “A.I.” on CNBC a couple of times.
Step 4: Watch as the Market Makers (who are net long your stock) abuse their privilege to boast a single day gain of $200,000,000,000 (two hundred billion dollars)
On Friday, shares of Meta (META) jumped more than 20% on the news of a quarterly dividend of $0.50 per share to be paid out on March 26 to shareholders of record as of February 22.
Let me get this straight: Meta said that for every stock you have month from now you will get $0.50 two months from now and people started buying like crazy. So basically people are betting that they will be able sell the stock right after Feb 22 before it loses more than $0.50? Am I getting this right? This system is so fucked up...
No, the idea is that a stock that previously never provided a dividend now suddenly is.
This means that now their stock may meet criteria for certain types of institutional investment holdings that look for or require dividends.
At this point, a lot of the stock market is traded less on "the market thinks this company will do well" and more "my algorithm thinks other algorithms will value this stock in a given way."
For example, IIRC the majority of trade volume is after hours, meaning that while the markets are closed to main street investors is when the value of companies is really being decided between brokerages and institutional investors.
While not entirely a rigged game because companies actually doing well does tend to result in net price increases, a significant portion of the money to be made in the stock market is unequivocally rigged.
So basically people are betting that they will be able sell the stock right after Feb 22 before it loses more than $0.50?
Not necessarily. With all it gained, they can even sell tomorrow. Or at any point before it takes the next massive hit.
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The stock market is a ponzi scheme. More news at 11.
I like to write covered calls
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