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Algorithmic trading produces nothing of value and yet we allow it for some reason. It actually detracts from the entire purpose of a stock market. It has also
by fennecbutt 3y ago
Algorithmic trading produces nothing of value and yet we allow it for some reason.
It actually detracts from the entire purpose of a stock market.
It has also created our poisonous modern environment where companies chase record profits every year, endless unsustainable growth with the added side effect of ass-covering for all their bad investments.
A lucky investment like this guy is probably fine but the truth is that the system is set up so that wealth begets more wealth; the wealthiest people have so much money that they don't have to be careful with it, look at how much Musk spent on Twitter as a toy for him to destroy, it doesn't matter because record profits and valuations ensure that dumbfuck CEOs and investors are bailed out of their dumb decisions.
Meanwhile we live in a biological society where our evolutionary path has made it exceedingly easy to manipulate people to hate based on sexuality, gender, race, etc ignoring the class war going on. We're too apathetic and ignorant to vote together, we could all share in our species' accomplishments but no, the suit and tie ruling class can have all the Bentleys they like so long as I get to vote for the guy that'll let me hate the people I want to hate.