bhupy

104 ms·

811.
by bhupy 6y ago
I had no issues (at least procedurally) with the arguments past GP's first sentence, hence why I prefaced it with "unrelated". I was strictly attacking the first sentence. It is entirely possible to have targeted criticism of
812.
by bhupy 6y ago
> I don't know, it would be great if any of these people had bothered talking to a lawyer or an anti-trust scholar, a provenance that would matter a lot to understanding this issue. By this logic, the vast majority on this forum hav
813.
by bhupy 6y ago
The democratic process has been known to produce sub-optimal results. The only way to correct those results is to criticize the status quo. This is all part of the democratic process...
814.
by bhupy 6y ago
Sure, status quo policy isn't gospel, and a minimum wage isn't necessarily the best solution to the problems it aims to solve.
815.
by bhupy 6y ago
> This article is just repeating the same Apple messaging points they've given us. Unrelated, but this is just about my least favorite criticism of an argument. "Messaging points" are used/reused because they're
816.
by bhupy 6y ago
The incentives are based on the very metrics that the GP commenter alleged are NOT used to value stocks (P/E, revenue, growth). It’s one thing to argue that the stock market is purely driven by emotion and irrationality. It’s another t
817.
by bhupy 6y ago
> Such as what? UBI/NIT. Or more realistically, just expanding the EITC.
818.
by bhupy 6y ago
Sure, I meant a "reformed" EITC, but my point was to compare it to a UBI/NIT. It would absolutely be more desirable to remove the employment requirement and perhaps even increase it by at least 3x.
819.
by bhupy 6y ago
This argument ignores that the anti-min-wage argument isn't monolithic. The other argument is that a minimum wage can usually (though not always) result in higher prices because employers just pass on the cost of higher wages to the bu
820.
by bhupy 6y ago
On an article about wages (not wealth), did you consider looking at median income per adult? https://en.wikipedia.org/wiki/Disposable_household_and_per_c...
821.
by bhupy 6y ago
It makes no sense to compare AAPL to TSLA. Apple's P/E ratio (35) is less than Amazon's and about the same as Google/FB. Apple's FY2020 revenue was nearly $300B, so $2T market cap represents a ~7x revenue multiple w
822.
by bhupy 6y ago
It is definitely a confounding variable in the context of the question at hand (posed by the GP commenter): why inequality is a bad thing, and whether it is directly responsible for the "shrinking middle class" going to the "
823.
by bhupy 6y ago
They have for their sub-orbital rockets. Everyone's gotta start somewhere, right?
824.
by bhupy 6y ago
Yes, pith aside, everybody knows that space is hard. The GP commenter is arguing that it's odd to write off BO when they are currently in the process of launch -> fail -> learn -> repeat.
825.
by bhupy 6y ago
Um, they have Jeff Bezos' personal piggy bank to fund it? He periodically liquidates his Amazon holdings to fund BO. According to LinkedIn, they currently have ~2,800 full time employees. Their executive team comes from leadership role
826.
by bhupy 6y ago
> If there was a direct correlation between some metric and stock price, every trade would be automated. 80% of the stock market is controlled by automated trading machines: https://www.cnbc.com/2019/06/28/
827.
by bhupy 6y ago
Sure, but there doesn't appear to be anything intrinsic to BO that lends itself a particular disadvantage to doing "the hard thing". They appear to have the requisite resources & staff, so predicting that they will nev
828.
by bhupy 6y ago
FRED (Federal Reserve Economic Data) PPP Converted GDP Per Capita, derived from growth rates of Consumption, Government Consumption, Investment -> https://fred.stlouisfed.org/series/RGDPLPUSA625NUPN Inflation Adjust
829.
by bhupy 6y ago
> Activist investors don't take a majority stake, just one large enough to get a board seat or two (5% is considered the minimum in the US) and make some noise. Per-investor, yes — but multiple institutional investors can get involv
830.
by bhupy 6y ago
I thought I was the only one. For a while I really struggled with a crippling addiction to Reddit, and no amount of Screen Time blockers seemed to help (it’s too easy to override). Simply uninstalling the app did the trick. In the beginning
831.
by bhupy 6y ago
> there is no inherent right to be very high net worth But there is an inherent right to the ownership of property (enshrined in the US Constitution). A Federal wealth tax is currently unconstitutional for the same reason that you don’t
832.
by bhupy 6y ago
Again, at the risk of explaining the basics of how publicly traded companies work...activist investors may disagree with other shareholders as to whether “Musk is a value add”. It’s not some objective truth, it entirely depends on what the
833.
by bhupy 6y ago
This is correct, but a wealth tax is a bit of a non-sequitur, as it's a solution that has almost nothing to do with the problem. If the problem is middle class purchasing power, then the solution should be to directly improve middle cl
834.
by bhupy 6y ago
> I thought they were valued highly because of Musk's leadership, not ownership. Is that not the case? Even without his ownership stake, he can continue to be the CEO as long as the companies do well. That's not how publicly tr
835.
by bhupy 6y ago
> The coalescing and hoarding of wealth results in the deterioration of the average value of a human life. This is not true at all. If Bill Gates walks into a bar, the wealth distribution changes dramatically, but the absolute standard o
836.
by bhupy 6y ago
Most of the super-wealthy derive their wealth from owning significant ownership in extremely valuable corporations. Outside of hedge fund managers and Warren Buffett, most of the super-wealthy do not have sufficiently diverse investments wh
837.
by bhupy 6y ago
There's nothing wrong with shareholder dividends, but to add an extra incentive to pay dividends is distortionary and doesn't make much economic sense. On the contrary, society appears to want to minimize shareholder dividends b
838.
by bhupy 6y ago
> Sounds like a tax like this would motivate him to work more not less. You frame this as though this is somehow beneficial to shareholders, but if that's the case, they can work out this arrangement themselves. Also the idea that S
839.
by bhupy 6y ago
Depending on the proposal, a 1% annual wealth tax on Bezos would amount to $2 billion per year. If he borrowed that at 2% interest, that's $40 million/year in interest in perpetuity. Even at a more modest 0.1%, Bezos does not have
840.
by bhupy 6y ago
Sure, but the root cause of that is pretty well known to be the proliferation of credit default swaps that led to a housing bubble that burst in 2008, and not the mere existence of billionaires writ large. Also, here's a more recent so

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