I don’t know how I feel about it. On one hand, it makes for less of an echo chamber. On the other hand, their thoughts are fucking stupid and it hurts my brain to see them.
Man I am kinda sorry, that I invade your worldview.
But rich people don’t have all their money stored in a vault like Dagobert Duck. It’s all stocks.
And boy, if one of the companies make losses, then their money goes downhill. It’s volatile.
And due to immense concurrence in innovation in the tech sector, every investor has a huge interest in innovation.
And with many investment, the start of a company is ensured.
The current capitalism is the system that works best.
Especially the US capitalism is one hell of a driver in innovation.
I live in Germany and many companies wouldn’t be possible here. Even though we have capitalism, it’s much softer than its US counterpart.
The downside of course is poverty for cheaper labour.
And that’s brutal, but it’s the reality we live in.
Though I wouldn’t want to live in the US without healthcare, on the counter side I wouldn’t want to start a company here in Europe.
Did you read any of those links? 10% of world GDP. That’s not relatively little. That’s insane.
I have only overflown the Oxford paper. Caught my attention with the affect of increasing taxing the rich. Interesting take, but purely theoretical with no reasonable adaption possibility. The rich would just leave the country and some other country would profit from their taxes.
And stocks doesn’t automatically mean good. How much of that is speculative bubbles and hype-driven overvalued stocks?
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Jokes aside. The stock market is relatively precise, it also projects potential into the future.
Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
Rich people are people and most people don’t just up and leave behind places they’ve built their lives in unless under extreme pressure. A few billionaires might relocate to the Bahamas but they’re not going to be able to take their mansions and penthouses with them - and they lose out on the markets, infrastructure, and other benefits of their home countries. That’s a major incentive to just pay the taxes.
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Who says I haven’t done that already?
The stock market is relatively precise, it also projects potential into the future.
The stock market is not precise. I have data and papers discussing this - but there’s no need for them. I’ll instead leave you with a simple question: if the stock market is so precise, why is there a major crash every decade?
Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
Sure, purely capitalistic motives, which is why a lot of these are impractical venture capital BS and outright scams. It is currently more profitable to greenwash than it is to actually solve the problem.
UserDoesNotExist, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone on this website is now dumber for having read it. I award you one downvote, and may God have mercy on your soul.
Imagine thinking CEOs drive innovation lmao
Why does it seem like there are a ton more conservatives here on Lemmy than there were on Reddit?
My theory is they just had a habit of getting banned so they weren’t as visable
I don’t know how I feel about it. On one hand, it makes for less of an echo chamber. On the other hand, their thoughts are fucking stupid and it hurts my brain to see them.
But they kinda do. Imagine Samsung or Apple stopping innovation. Company goes bankrupt.
Oh brother
Man I am kinda sorry, that I invade your worldview.
But rich people don’t have all their money stored in a vault like Dagobert Duck. It’s all stocks.
And boy, if one of the companies make losses, then their money goes downhill. It’s volatile.
And due to immense concurrence in innovation in the tech sector, every investor has a huge interest in innovation.
And with many investment, the start of a company is ensured.
The current capitalism is the system that works best.
Especially the US capitalism is one hell of a driver in innovation. I live in Germany and many companies wouldn’t be possible here. Even though we have capitalism, it’s much softer than its US counterpart.
The downside of course is poverty for cheaper labour.
And that’s brutal, but it’s the reality we live in.
Though I wouldn’t want to live in the US without healthcare, on the counter side I wouldn’t want to start a company here in Europe.
btw they do store a lot of their money in vaults where it doesnt benefit the economy at all.
This is in the form of expensive art that stays in containers in tax-free zones, and offshore accounts in tax havens.
Please educate yourself.
https://archive-yaleglobal.yale.edu/content/how-wealthy-sell-treasures-tax-free
https://www.icij.org/inside-icij/2017/09/7-charts-show-how-rich-hide-their-cash
https://en.wikipedia.org/wiki/Panama_Papers
https://academic.oup.com/ser/article/20/2/539/6500315
But most of it is still invested in stocks. So those few links have relatively little impact.
Did you read any of those links? 10% of world GDP. That’s not relatively little. That’s insane.
And stocks doesn’t automatically mean good. How much of that is speculative bubbles and hype-driven overvalued stocks?
I have only overflown the Oxford paper. Caught my attention with the affect of increasing taxing the rich. Interesting take, but purely theoretical with no reasonable adaption possibility. The rich would just leave the country and some other country would profit from their taxes.
If you believe to know which ones are overvalued, then you should try to go buy short positions in them. Maybe you become rich then?
Jokes aside. The stock market is relatively precise, it also projects potential into the future. Due to that many stocks to combat climate change have risen in popularity and a lot of money has been brought to said companies by purely capitalistic driven motives.
This is an oft-repeated talking point but usually contradicted by data. Sounds smart but isn’t smart.
https://www.theguardian.com/inequality/2017/nov/20/if-you-tax-the-rich-they-wont-leave-us-data-contradicts-millionaires-threats
https://www.taxresearch.org.uk/Blog/2017/11/20/if-you-tax-the-rich-they-dont-move-they-just-pay/
Rich people are people and most people don’t just up and leave behind places they’ve built their lives in unless under extreme pressure. A few billionaires might relocate to the Bahamas but they’re not going to be able to take their mansions and penthouses with them - and they lose out on the markets, infrastructure, and other benefits of their home countries. That’s a major incentive to just pay the taxes.
Who says I haven’t done that already?
The stock market is not precise. I have data and papers discussing this - but there’s no need for them. I’ll instead leave you with a simple question: if the stock market is so precise, why is there a major crash every decade?
Sure, purely capitalistic motives, which is why a lot of these are impractical venture capital BS and outright scams. It is currently more profitable to greenwash than it is to actually solve the problem.
You don’t have to take my word for it: https://www.cnbc.com/2020/02/26/chamath-palihapitiya-esg-investing-is-a-complete-fraud.html
UserDoesNotExist, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone on this website is now dumber for having read it. I award you one downvote, and may God have mercy on your soul.
Sorry if you do not understand the system we live in.
Ribbit