this post was submitted on 25 Sep 2023
758 points (98.5% liked)
Technology
59168 readers
2113 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
That's the problem - based on the CEO selling almost all his stock over time and rumors attributed to employees, they knew.
A company turning a consistent modest profit is good for many people, but makes no one rich. It's a good investment and provides for many people, but is meaningless if you're already rich.
A company exploding to 100x its size makes a bunch of people very rich and a lot of people more wealthy, but is very rare in this age where the world is already as industrialized as anyone wants it to be. There's nowhere else to expand, no underdeveloped countries with resources to buy for pennies on the dollar
A company imploding can make a few people rich... but it's a big guaranteed payout if you see it coming.
That's the stage of capitalism we've been at for a while - cannibalization.