3 ms·

It's okay for unprofitable companies to fail. Desirable, in fact.

• mike_hearn 2y ago
  No, it's desirable for them to become profitable and successful again, especially if the only reason they're unprofitable is people abusing the rules to extract capital from them unsustainably.
  • bluefirebrand 2y ago
    > especially if the only reason they're unprofitable is people abusing the rules to extract capital from them unsustainably Employees don't extract capital from companies, especially unsustainably. Executives and Boards of Directors do though
    • mike_hearn 2y ago
      Sure they do. Unions, abuse of other worker rights laws and voting in socialist parties that raise corporate tax rates to unsustainable levels are all exactly that, and have a long history of extracting so much the companies or even entire economies fail. Argentina is an extreme example of this over the past 100 years but obviously there are many others.