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If you have money and it ends up funding dickheads, congrats you are also a dickhead. The more money you have the less forgivable it is, simply because more mon
by riversflow 3y ago
If you have money and it ends up funding dickheads, congrats you are also a dickhead. The more money you have the less forgivable it is, simply because more money buys you better insight.
- recursive 3y agoWhy is it that owning stock in a company implies support for their actions? If you own stock, you may be able to vote on their future direction. I can see how owning stock is a bet on the future success of a company, but not an endorsement. Maybe I don't understand stocks.
- Fezzik 3y agoI think owning stock is a financial endorsement of what the company is actually doing- you own a fraction of the company and saying ‘I just want a return on my money, no matter what the company does’ does not absolve you from actually financially supporting bad actors. If I hoist you in to a building to steal something I am endorsing your behavior. Same thing.
- blep_ 3y agoLet's rephrase then: why does owning stock imply financially supporting the company? After IPO, you're not buying anything from the company, you're buying from other investors.
- azmodeus 3y agoStocks are also called shares, the name is a bit of a give away. It’s a share of a company you are a partial owner of it with some rights. I think you do endorse the company whose shares you hold, in particular if it’s public knowledge.
- Fezzik 3y agoNot only that, but your goal as a shareholder is to benefit financially from the company. If a company is a bad actor and you know it, you are expressly financing and benefitting from bad acts. I’m not sure why other commenters are trying to abstract this fact out of existence. It is not rocket science!
- recursive 3y ago> you are expressly financing This is the part I don't understand. You generally buy stock from other stock holders. The company doesn't get the proceeds.
- Fezzik 3y agoSo if you buy stolen goods from someone who bought the stolen goods from the thief, and you knew the goods were stolen, you are doing nothing unethical. That’s all you’re saying, which is a position you can have, but it is a sad one. And you are, in fact, contributing to bad acts. The initial buyer may not have bought the investment if they knew there wasn’t a rube down the line that would take it off their hands.
- recursive 3y agoOk, this kind of makes sense. By holding a stock, you're increasing demand. Future fund raising for the company will benefit. I think.
- EdwardDiego 3y ago50% of my retirement funding is in Australian mining. Is it sustainable? Is it good for the environment? Is it an industry known for ethics? No, no, and no. Will they stop mining if no-one holds their public shares? Lol, no, lots of privately held mining companies exist who tend to perform even less ethically. https://en.wikipedia.org/wiki/Hancock_Prospecting#Attitudes_towards_indigenous_peoples https://en.wikipedia.org/wiki/Hancock_Prospecting#Attitudes_... So, if they're going to dig the stuff up to sell to China anyway, I'm happy earning some money from it. I don't endorse their behaviour, but I do endorse the 10 - 15% return I've been getting on something they're doing already.
- AniseAbyss 3y ago[dead]
- Fezzik 3y ago“They’re going to keep the chickens in horrific conditions whether I buy the chickens or not, so I may as well buy them, becuase ‘yum!’ Chickens.” Your vote may be paltry, but it’s still your vote. Use it wisely. It matters.
- PlunderBunny 3y ago"If we don't steal these hubcaps, someone else is bound to..."