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[–] 56 points 2 years ago* (last edited 2 years ago) (9 children)

Wall street is the psychotic, insatiable, dehumanizing tail that wags the dog, one petulant tantrum-a-minute to the next, and the next, and the next... perpetually.
God forbid anyone in a corporate position of power try and do anything that isn't indecent and corrosively myopic, else the stampeding Dow Jones zombies go on a goddamned short-selling rampage.

But then people have been saying this for ages now, and still here we are.

EDIT: added "insatiable"

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  • [–] 39 points 2 years ago (2 children)

    I remember a story about a CEO who decided to pay ALL of his employees well. As I remember, all of his middle management left in a huff because they no longer had their higher earnings to hold over their subordinates and feel superior, all of his friends ostracized him and he essentially became a pariah.

    Yeah, Dan Price, just went to look it up. Apparently, he had to resign after some allegations against him, which turned out to be false. Something smells off about a man paying employees fairly suddenly getting trumped-up charges that never got properly investigated before being referred to the prosecutor's office literally the day after he announces the pay stuff.

    https://fortune.com/2023/04/19/gravity-payments-dan-price-assault-charges-are-dropped/

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  • [–] 18 points 2 years ago (1 child)

    He resigned because someone that has part ownership in the company sued him.

    The lawsuit was basically “you’re not acting in a way that is best for the shareholders”

    Or in other words “you’re paying the employees more and me less, so I’m mad at you for treating them well”

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  • [–] 29 points 2 years ago (4 children)

    The stock market should be abolished entirely. The driving force behind big business and government decisions should be humanity, not money.

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  • [–] 4 points 2 years ago

    Interestingly enough, I just put forth the argument in another thread that dismantling the stock market would address a lot of systemic problems. I’m glad it’s not just my own thinking.

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