Comment by jmathai
6 hours ago
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/
Public prisons have all of the same incentives to reduce costs and anything you should do to ensure public prisons are following minimum standards (regular inspections and regulations) can just as easily be applied to private prisons.
The problem isn't the profit. The problem is the lack of accountability.
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