Comment by pc86
4 hours ago
What does this have to do with WhatsApp?
Also as much as you might like to punish investors (most of whom just have it in their 401k) because you don't like people with money, there are legal protections and the government can't just do something like that without an actual reason.
WhatsApp is definitely part of Meta's distribution and reach strategy. So it's very relevant.
I don't think OP is trying to punish investors. I think they are saying the overall damage of letting these companies continue the current trend will be worse than the cost of unwinding it now.
I'm an advocate of reformed legislation to enable this.
Why shouldn't we punish investors? This is the risk when you invest in these types of companies where regulation is nonexistent. It's not the job of the government to make sure rich shareholders stay green.
It’s absolutely insane to me how intro economics classes spout that capital takes on risks to implement new ideas while completely glossing over the political process of ensuring profit floors and guarantees under the “rent seeking” definition. Like, rent seeking seems to be the only goal of capital now.
Egregious example:
https://www.loevy.com/for-profit-prison/
2 replies →
I know that shareholders just want monopolies and free money and don't want to compete for it, but we should make them. Like we did before Ronald Reagan and Robert Bork shot the kneecaps out of our antitrust law. It's not about punishing shareholders, it's about making them earn their keep. It's just good business.
The government can do whatever it wants. Laws are written by the government. We have a democracy. If enough votes exist to, say, pass a law banning drug dealing (like meta does), then the company will die.
Simple as that
Also as much as you might like to punish investors (most of whom just have it in their 401k) because you don't like people with money, there are legal protections and the government can't just do something like that without an actual reason.
As much as you might like to defend the wealthy because the only thing you care about is money, regardless of the human cost, doesn't mean that we can't use the law and the government to limit the harm being done to humans.
I know what you are going to say. "Fuck people! I only worship money!" but I think you need to look beyond just the financial aspects of this situation.
I think the point is, it's been a good system, but it's out of control. It's not that people don't like people having money, it's people don't like the status quo of watching society and the world be destroyed by generating share holder value alone. We need a better system. Not saying that is communism or whatever, but the monopolies and corruption are off the charts.