I think in both cases you have a small and vocal minority within the group. Then you have the silent majority who never preach but just enjoy the lifestyle and the benefits it brings them.
I think in both cases you have a small and vocal minority within the group. Then you have the silent majority who never preach but just enjoy the lifestyle and the benefits it brings them.
No, but Russian bullets will! Not one step back, comrade!
Should’ve eaten some sauerkraut and fried onions! The manliest of all vegetables! Has the bonus effect of repelling ladies up to 5 feet away!
Taxing profits just means the company will borrow from investors (by issuing bonds) and then instead of profits paying out as dividends the company shows losses from interest payments.
I would rather try land value taxes.
Putting a huge percentage of a company up for sale on the open market is going to tank the price no matter what the fundamentals are. It’s simple supply and demand: you’re putting a huge glut of supply on the market and not putting similar demand. All those sell orders will begin expiring as the offers drop in price.
The largest owner of shares putting everything on the market at once is strong signal that the stock is overpriced and so buyers will react accordingly.
By the way, TSLA has a P/E ratio in the 60’s so it’s not exactly a great deal anyway.
I’m neither defending nor attacking capitalism. I’m just pointing out that putting heavy taxes on illiquid assets leads to huge disruptions.
The increase in value of shares above book is called unrealized gains. They can be here today and gone tomorrow. Taxing makes no sense unless you’re going to reimburse the taxes if the shares drop in price.
The whole system seems like a sham to me. If one artist has fans that listen 24/7 and another artist has fans that only listen for one hour a day (but that artist is all they listen to), it should be the same. Each person’s account should have its own “pot” out of the subscription fee that only they can allocate to the artists they listen to. Duration of listening shouldn’t matter at all.
How does that work though? Presumably he’s not paying subscription fees on all of his bot accounts, so they must be free accounts. I don’t use Spotify, so I don’t even know why they would have free accounts.
Unless he’s hacked other people’s accounts, then that would make sense for the seriousness of these charges.
Shares aren’t always given to you as a reward. If you are the sole founder of a company then you create the shares yourself and decide who to give (or sell) them to. If you choose not to take your company public on the stock market, then what your stake in the company is worth is unclear. Sure, the company may have assets (equipment, properties, resources) but that’s only the book value. The true market value of the company might be much higher.
Look at a software company. The software they create might never be sold, only used to provide services. The market value of the company could far exceed the book value of all the desks, chairs, computers, and other stuff the company has at the office. But you don’t really know that if the company never goes public. So how do you tax it?
if he were able to convert all of his $241.8B to cash
That’s the assumption everyone makes but it’s a false premise. If he tried to sell all his shares it would cause the stock price to collapse, his wealth would plummet, and his companies would be in jeopardy. Far from being able to give all of them $1.6M, they would all likely lose their jobs.
That’s also the issue with taxing them. If someone owns a billion dollar company (based on the price of their shares of stock) we call them a billionaire but they might not have very much money in cash (say a few million). Suppose we want to tax them 10% of their wealth: that’s $100 million! They don’t have enough cash to pay for that, so they have to sell shares, which causes the share price to go down, which negatively affects the company and the workers.
I think the issue is with how we view ownership of a business vs other things, like a yacht. The yacht can be sold to pay taxes and it won’t affect other people. The company cannot. In a lot of ways, the company isn’t just a possession of the owner, it’s a responsibility. These days I feel like we don’t talk enough about responsibility.
Using AI to provide services or crawlers to scan the internet for pages to add to search evinces is different from what this guy did with bots. Those use cases are not pretending to be a legit user in order to collect money.
What this guy did — using bots to fake listen to music — is in the same category as using bots to click on ads that you put on your own web page: it’s serving no legitimate purpose and only exists to defraud businesses which paid for the ads (or Spotify which is paying the royalties)…
No it’s actually way faster. You can swipe whole words in less than a second. It’s like writing with pen and paper but each letter is actually a whole word.
Just dealing with this tonight!
You skipped a crucial step: first you gotta raise a few hundred million in VC funding from Silicon Valley bigwigs!
The key word you used is “betrayed.” Utopian ideologies can be betrayed. Capitalism is not utopian because it cannot be betrayed: it assumes competition by default and accepts that some ventures will survive while others will not.
This process began long before Reagan. I think it started with the automobile manufacturers, and General Motors in particular, in their war on public transit.
The death of the streetcar brought with it the death of streetcar suburbs and mixed-use zoning, which was the foundation upon which most third places rested (neighbourhood pubs, cafes, and barber shops).
Anyway, definitely watch that video if you have the time. Compare the vast landscapes full of roads and parking lots with the old-fashioned neighbourhood of Riverdale, with its narrow streets and cozy houses huddled together on small lots. It’s easy to see which one is more conducive to community, civic engagement, and good government. The car-dependent landscape looks like some dystopian nightmare by comparison.
That’s because the US is not only deeply polarized by party affiliation, it’s deeply segregated regionally by political stripe. Look at how few “swing states” there are and how all the rest are “solid red” or “solid blue.”
Increasingly, people know and have personal contact with fewer and fewer members of the other side. We’re witnessing the creation of the Morlocks and the Eloi, groups that neither interact with nor understand one another to the point of being separate species.
I switched from vim to emacs years ago. Then years later I switched back. Emacs is cool and all but it really killed my pinkie finger!
As much as we all would love to see it happen, such “laws” are known as bills of attainder. The US constitution explicitly forbids these.
I use the word utopian because it makes assumptions about people that aren’t true. Utopian systems can’t survive staunch and organized opposition.
This is a basic requirement for any system to survive. Look at the human body: the immune system is constantly fighting off threats. A person without an immune system (full blown AIDS) has a very difficult time surviving for very long.
40yo single dude checking in. I think the government lost my assignment form!