The movie fight club is a direct editorialized adaption of the Manifesto
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I mean, they went to work for Oracle in 2023...
Scorpion and the frog. Pretty hard to have sympathy
Lobbying/Bribery seems more egregious than investing.
At least investing has some economic forces that cause people to conserve resources and allocate them better than prior.
Lobbying/Bribery is just pure corruption. The medical industry is so extravagant because they are among the top lobbyists of all time. Only the entirety of real estate or all US businesses(chamber of commerce) can even compete with merely the American Medical Association or AHA. Heck, combining all of medical and the lobbying is worse than every other industry including all US businesses
https://www.opensecrets.org/federal-lobbying/top-spenders?cy...
Where does the money for all of that lobbying come from?
Bribery has and will occur in every society. Lobbying is so bad in the US because certain groups have basically unlimited money
If you want to understand what went wrong with America, start with private equity
I’d like to read more about this, has it been documented or analyzed in any organized way via books/research, etc. that is available?
Roughly the things to look up are private equity and their "bust out" strategy
https://www.youtube.com/watch?v=z5PLEZiSZV
https://www.youtube.com/watch?v=r3_41Whvr1I
https://www.youtube.com/watch?v=o10nh86q64Q
https://www.youtube.com/watch?v=n7VmIy0VXOY
Buy a company with debt (leveraged buy out). Hand that cash back to the "private equity investors". Let the company go bankrupt and the debt magically dissapears.
Basically legalized theft at enormous scale
I don’t see how they managed to mess this up. The entire world bought an Instant Pot a few years ago when they were all the rage on Reddit, etc. We bought my brother one for a gift.
Modern consumer brands have essentially nothing to do with selling consumer goods. They are financial vehicles for private equity to lever up on.
In a decreasing liquidity environment many of these schemes will blow up. They could have sold 100x more insta pots and it wouldn't have mattered, it's pure financial gambling under the hood
awaythrow483 commented on The AI hype bubble is the new crypto hype bubble doctorow.medium.com/the-a... · Posted by u/jrepinc
No, I think AMD is really worth 500x earnings. No bubble here
awaythrow483 commented on 90% of Apple's value was created under Tim Cook twitter.com/marekgibney/s... · Posted by u/mg
90% of Apple's stock price was created under Tim Cook. That's what happens when you shift your effort from producing value to financializing
If you strip out the call for revolution stuff which is very poorly argued anyway and I think just transparently will never happen, the remaining 80% of the manifesto is very well written