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A billionaire wrote this letter to Google a year ago. How likely is that Google's layoffs and actions since then are at least partly because of this? (lemmy.world)
submitted 2 years ago by to c/workreform@lemmy.world
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[–] 1 point 2 years ago (1 child)

Upthread:

This is a terminal stage market capitalism fire sale. The snake is eating its own tail having conquered the board.

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  • [–] 1 point 2 years ago (1 child)

    And? How do you get stock market from that? They are obviously talking about the economy as a whole and not the stock market

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  • [–] 1 point 2 years ago (1 child)

    The stock market is the reason for chasing quarterly profits and a massive part of what gets counted as the economy. It is the main driver of all the shitty late stage capitalism practices we are discussing.

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  • [–] 1 point 2 years ago

    The stock market is certainly part of the problem but it’s not everything.

    Capitalism in its entirety is the issue. Capitalism is based on infinite growth which is unsustainable and impossible.

    The stock market is just a tool to extract wealth from the populace. Without the stock market it would still happen but with less efficiency.

    You have the same problems with or without stocks.

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