4 ms·

> garbage capitalism. How is this defined?

• jfengel 5mo ago
  Moving money around and pretending that there is more of it.
  • alchemist1e9 5mo ago
    You mean leverage/borrowing? Pretty time tested mechanism of risk taking in free markets.
    • idiotsecant 5mo ago
      Moving money from one pile to another so that you can skim a little off the top is imaginary work and is slowly destroying the west
      • k33n 5mo ago
        That’s not what’s slowly destroying the west but I understand that I must keep my remarks on this Marxist-friendly website very tame.
      • mapt 5mo ago
        It's always gone on, and probably always will on some level. It's only when it becomes the primary concern that capitalism eats itself.
• smallmancontrov 5mo ago
  Slumlord owners of the network effect monopolies innovating ever lower investment in innovation and upkeep with ever higher increases in rent extraction, with a few nipple tassles slapped on the side to entice retail investor hype cycles.
• rchaud 5mo ago
  A few things come to mind: - SPAC IPOs that dodge standard disclosure requirements and worsen information asymmetry. See WeWork. - Board positions filled with CEO loyalists instead of independent directors. See OpenAI firing Altman before Microsoft reinstated him. - Management taking seemingly arbitrary decisions that turn out to be directly linked to their own compensation. SpaceX ordering a bunch of Teslas, or merging with a distressed asset (xAI). See above point on loyalist boards. - The very concept of leveraged buyouts where financiers borrow money to buy a company, then put the burden on repayment on the company AND pay themselves hefty management fees. This inevitably leads to layoffs and a rapid decline in product/service quality while the company is scrapped for parts.
• deleted 5mo ago
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