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For context: Google One Year Stock Chart https://www.google.com/finance/quote/GOOGL:NASDAQ?sa=X&sqi=2&ved=2ahUKEwiQ4PvXzdWDAxV0EFkFHYHAAtYQ3ecFegQIXhAf&window=1
by John23832 3y ago
For context: Google One Year Stock Chart https://www.google.com/finance/quote/GOOGL:NASDAQ?sa=X&sqi=2&ved=2ahUKEwiQ4PvXzdWDAxV0EFkFHYHAAtYQ3ecFegQIXhAf&window=1Y https://www.google.com/finance/quote/GOOGL:NASDAQ?sa=X&sqi=2...
These companies are companies. Meant to maximize profit.
We've also gotten to the point where we're pursuing Capitalism for Capitalism's sake. The idea of how layoffs affect people doesn't matter. That's for society to figure out.
Oh, and these companies which have high earnings (I avoided the use of "profit" because these companies often shuffle money around to manufacture or negate profitability), a also pay some of the lowest marginal taxes by entities in our society. Sucks, that's not their problem... they're hear to maximize shareholder profit.
Just an ouroboros of capitalistic sociopathy.