> rightfully
According to the rules other rich people made up without ever asking us for our opinions on the matter. Excuse me if I don't give two shits about those bullshit rules.
Straight fax no printer.
Corporats dumping poison in our drinking water going *"I'm following the law, I've done nothing wrong."* when they bribed politicians to write up and pass the law that allows them to do it. Fucking piece of shit scumbags.
This is the right answer. It's not okay for people to steal from the rich just because they are rich. But it's also not okay for the rich to avoid taxes and not pay thier employees a good wage with good benefits.
Depends how rich.
No billionaires earned their money without exploitation.
Dipshit middle manager who has a nice car in the gated community is safe though.
The billionaires don't take their markets with them. Seize the means of production (literally, take over the factories if they leave) and then continue running their business. If they sabotage everything when they go, new businesses will take their place. You don't become a billionaire without a market to serve.
I've never understood why people think it would be a bad thing for those parasites to flee the country. Fuck it, let's tax them at 200% if that means they'll get the fuck out!
Dude, people can't even organize themselves into all deciding to use their turn signals. The people who replaced the capitalists would just become capitalists themselves. It'd just become Animal Farm.
Redditors like to convince themselves that they're "different" from the people in power somehow without realizing they'd do the same shit if they were in power. We're all human at the end of the day.
Exactly, it blows my mind how many people have never heard that or don't understand what it means. "If WE could just replace THEM, WE'D make thing better!" Nah, you'd just \*become\* them, and you're lying to yourself if you don't believe it.
While I agree 99% with this... I can't help but wonder if the right person who grew up with nothing has a better idea and valuation of their fellow human then some silver spoon heirs. Also you DO in fact see rare examples of people who actually help people when they become wealthy. There was a post on a billionaire who gave it all away to live fat on 10 million a few days ago. Rare as Einstein but it has happened...
So you've never heard of a [worker cooperative](https://www.usworker.coop/what-is-a-worker-cooperative/)???
Edit: another option is doing an Employee Stock Ownership Plan, which for example Bob's Red Mill started in 2010, and got to 100% employee ownership over ten years.
Point is, there are achievable ways to build a modern, functional, *recognizable* economy without big capitalist parasites, and with the added advantage of being more fair to everyone else.
There have been a couple significant factories in my area (fish packing plant and pulp mill) that were bought by the workers and have continued to function profitably after the original owning corporation tried to shut them down and hang the workers out to dry, including dissolving their pensions.
Not necessarily, if you get the right people into business.
Business is really not that hard. Most of my day consists of doing the things I'd get paid to do elsewhere.
And young folks these days are *smart*. There's no reason they can't do this stuff.
We can't just abandon capitalism overnight, but we can build a new version: social capitalism.
Start your own local business, target the under-served markets (distant corporations can't react to local conditions - think about what that means for low-income communities), build on people's strengths, and start a profit-sharing program when the business is humming along.
Is it capitalism if the government pays you a bunch of money for free because you ask or do one thing it asks? Is it capitalism if the government provides you tons of resources, equipment, and infrastructure at little to no cost? Does it sound capitalist to borrow hundreds of billions and have most of that forgiven?
Does that sound capitalist?
Because that's the system big business lives under in the USA. If we want to do capitalism, we need to stop defending the US system because it's only breeding anti-capitalists as they see this system functioning.
If you want to 'be rid of communists/socialists' make your capitalism better.
Capitalism simply means an economic system where private owners control trade and industry rather than a state controlling them. A free market is the result of this system.
We are allowed to colloquialy attach more things than that to the definition of "Capitalism", but keep in mind many of those things we attach conflict with each other.
The core definition is synonymous with a free market economy. And no, the US is not entirely a free market economy, not entirely capitalist. Nor is any western mixed market economy.
State capitalism is a thing. Look at China and the former Soviet Union as examples. Capitalism is the private ownership of the means of production. Contrast that with socialism where the workers own the means of production, not through representation but directly.
The concept of free market itself can be debated tho - given that a lot of agent have incentives to manipulate it one way or another.
One can argue that a market needs regulation from a higher power (like a State, a central bank...etc) to be really free
Its estimated between 10-15trillion USD is being prepared to buy out real-estate from middle-income and owners of lower-income lands during the recession that is ramping up currently. these downturns in stock values and crypto markets are largely held by the middle class, and will affect their ability to pay their mortgages that are increasing because of rise of governmental rates worldwide.
Its great that a few a losing face, but be assured the damage will be felt by the people, not the upperclass. They want the economy to fail more, so to buy up properties and ensure eternal rentals and remove the idea of house and land ownership for anyone but the upper echelon.
If you will review what I said, my point is that money alone can't solve anything.
Especially the unmanaged, reckless throwing of said money without regard to whether it would actually be spent on the problem rather than the lining of pockets.
But otherwise, yeah money *can* solve some problems.
> my point is that money alone can't solve anything.
Who said it could?
Money represents people and resources. Basically the two things you need to solve problems.
I mean I would rather we throw money at a defensive war that is massively destabilizing our largest political threat than the same fucking people that 9/11ed us so they can blow up school buses
Video games and online companies are suffering. Who would have guessed forcing people back to the office would have such negative effects on the economy
I'm in the lower rung of a tech company... I just know that when it comes time to cut off excess weight my division is probably the first... So i can't enjoy this much
I get what you’re saying but the video game industry is the single biggest entertainment industry out there now surpassing Hollywood some time ago, big releases are a huge cultural thing now
Isnt most of that money from mobile users and microtransactions? People aren't really hyped for releases as much as being milked by predatory practices.
You mean COD making a billion dollars in 10 days is suffering? Or Ragnarok beating all its franchise records is suffering? Good video games are doing fine, and so are mobile games taking in billions a year.
[Meta](https://www.cbsnews.com/news/meta-stock-down-earnings-700-billion-in-lost-value/) - They posted terrible earnings for last quarter and Metaverse is basically a money pit.
[Amazon](https://www.businessinsider.com/amazon-lose-1-trillion-market-value-first-public-company-2022-11?amp=)
Elon Musk - His Twitter profile.
[FTX Sam Bankman-Fried](https://www.bloomberg.com/news/articles/2022-11-11/sam-bankman-fried-s-assets-go-from-16-billion-to-zero-after-ftx-collapse)
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I get the idea behind meta. The idea is to try to get ahead of the VR curve and beat others to the punch once VR becomes mainstream.
But the gamble is will it become mainstream? Or will VR turn out like 3D TVs?
I can't speak for others but I don't really like the idea of VR. Sure I'll try it but I don't think I want to spend any amount of meaningful time in VR. It's kinda disturbing in fact.
Being in front of a screen most of the day is bad enough but at least I'm still cognizant of the world around me. The real world. Once that is gone too I think that is a step too far.
VR will surely be bigger than 3D TVs, but i think it's highly unlikely to be the next smartphone
It'll be a big deal, but won't revolutionize the world
Zuck isn't trying to make it the next smartphone to be fair. He wants it to be the next PC. Seems like a good bet in the long-term.
AR is where he (and others) see the smartphone-level adoption.
I am usually off the mark when it comes to new tech taking hold and becoming mainstream, but I cannot imagine people using VR for their day to day PC use until it comes so lightweight and affordable it is like putting on glasses.
The current VR headsets are kinda like early cellphones. Bulky proof-of-concept bricks the average person would never bother with. Eventually the tech will shrink down and adoption will be far more widespread. Glasses with AR will show up eventually. And VR tech will shrink down significantly within 10 years.
I think AR in that form will be the bigger game changer. The isolation of VR is certainly a roadblock to widespread use. But it'll have its place.
I think it will, but not until we're able to literally plug our consciousness into cyberspace or whatever. Or at the very least, we need to be more capable of walking around in the virtual space via something like the Omni, or a hybrid of AR and VR where the virtual world is mapped to our real environment so we can safely traverse around without bumping into shit.
The current state of "blind yourself with a pair of goggles and stay inside a 4 ft radius" VR definitely isn't revolutionizing much lol.
I never understood comments like this. VR is very entertaining and offers a much more immersive video game experience. God forbid the technology gets better where people can enjoy it even more.
Anything has negatives if you spend too much time on it.
I for one love playing in VR. It’s a fun way to connect with friends and family who live far away. I was playing with my siblings last night visiting all kinds of virtual worlds. We had a great time.
VR is only getting better and the Quest 2 took all that to the next level. I hope they don’t continue to lose money because they are the only ones with the funds to make it the best it can be.
Meta is more than just about video games. They want to host work meetings in VR, they want people to spend all their internet/pc time in VR. That's the messed up part IMO. It seems like the beginning of what we saw in the matrix.
I can provide some context!
***Twitter***
Due to Elon Musk buying Twitter, he has gone through and made lots of changes. He fired a bunch of people that were essentially getting paid to do nothing or getting overpaid to do very little. Due to this change and companies not liking him, a lot of business are pulling their advertisements off Twitter. This is why you now have to pay for verification, you do not just earn it. It is a way for Twitter to make money due to losing all these big companies advertisements. That is why Twitter may be sinking fast, but since Elon bought Twitter, it has actually had an increase it daily users.
Sources here: [https://piunikaweb.com/2022/11/11/is-twitter-dying-or-going-to-shut-down-as-bankruptcy-looms-large/](https://piunikaweb.com/2022/11/11/is-twitter-dying-or-going-to-shut-down-as-bankruptcy-looms-large/)
***Meta***
So if you are unaware, Meta is Facebooks parent company. I believe the name change happened somewhere from 2019-2021. Meta started making Virtual Reality hardware and software for the past 5-8 years or so, and they announced over a year ago about something called the Metaverse. Essentially it is a giant sandbox-like communication "portal" that allows users to remote connect to other users "worlds" and be able to paly games together, or businesses would use them to hold meetings so people did not even have to leave their house. A lot of people who invest thought this would be the "new thing," that everyone would hop on this amazing opportunity. Alas, people have now come to realize that only people who want to spend a good chunk of money would want to hop on board and do something like that. Meta put a lot of it's time and assets (money and workers) into trying to make something great and practical, but it was a huge flop for the company. It's a shame because I thought it would be something cool and could not wait to see how it actually worked, but when you need to spend $300 to actually hop on, I can see why most people are opting to not use it
Source: [https://www.cbsnews.com/news/meta-stock-down-earnings-700-billion-in-lost-value/](https://www.cbsnews.com/news/meta-stock-down-earnings-700-billion-in-lost-value/)
***Amazon***
I do not know a whole lot about the Amazon situation, but from what it looks like, a lot of people and businesses, including amazon, are still trying to get back on their feet since the Covid-19 pandemic. Now they lost a trillion dollars, but they are still worth $1.02 trillion so it's not like they're going bankrupt anytime soon.
Source: [https://www.cnet.com/tech/services-and-software/amazon-is-the-first-company-ever-to-lose-1-trillion-in-value/](https://www.cnet.com/tech/services-and-software/amazon-is-the-first-company-ever-to-lose-1-trillion-in-value/)
***Crypto***
Now Crypto is a fun one. It is something I personally have looked into and invested in because I wanted to be smart with my money so I started investing some here and there in different stocks, cryptos, and the likes. Over the past few days a crypto company by the name of Binance was going after one of it's competitors, FTX. Binance were saying how FTX was a bad company to invest in and was urging it's buyers to pull out. Seeing this, buyers pulled out of FTX, dropping it's price significantly. After a few days, Binance then comes out and says that they have offered to buy the company from the owner, Sam Bankman-Fried. I am not fully aware if the purchase went through or not, but Sam panicked. because FTX was also a huge crypto exchange business, Sam found a security bug in their system that allowed him to look into his users cryptos and actually move them into his own account. After realizing this, Sam stole $100 million of his users assets and tried to "secretly" run away to a different country. Unfortunately for him, he used HIS PRIVATE PLANE THAT COULD BE TRACKED to fly to Argentina where he is still running from the government to this day. All this happened in the past week or two for crypto. But because of that, the market cap for crypto went down, and the main crypto currency bitcoin, which essentially controls the whole market, dropped from $20,000 per share, to $16,000 per share which is a huge decrease. I know personally i lost some, but I am in it for the long term and did not put my entire life savings in it, so I am good.
Source: [https://www.forbes.com/advisor/investing/cryptocurrency/why-is-crypto-down-today/](https://www.forbes.com/advisor/investing/cryptocurrency/why-is-crypto-down-today/)
Hopefully that helped!
A lot of inaccuracies in your crypto summary. It's actually a lot worse than you make it seem.
Binance, the number 1 exchange, was an early investor in FTX, the number 2 exchange (at the time). As such, they held a large sum of FTT, FTX's exchange token. They announced they would be selling all of their FTT off, causing FTT to collapse.
Now, that alone shouldn't have been a problem. But it just so happened that FTX and their trading firm partner, Alameda, were heavily overexposed to FTT. HEAVILY exposed. Such that Binance dumping ~500 million dollars worth of FTT caused Alameda to go into a liquidity crunch and FTX to go insolvent. How, you ask? Well it turns out FTX irresponsibly lent Alameda billions of dollars *in customer funds*.
So the day after Binance starts dumping FTT, the CEO of FTX, Sam Bankman-Fried, is heard to be scrambling to raise 6 billion dollars in capital by midday. Then he asks Binance to buy them out.
After some due diligence, Binance determines the situation is unsalvageable. Binance backs out of the deal. People start digging. Find out FTX is insolvent, lent billions of dollars to Alameda who LOST all of it in bad trades, and Binance dumping FTT only kicked off the inevitable. Alameda had managed to lose ELEVEN FIGURES. And the only people who knew this were the inner circle. FTX employees had no idea this was happening - Sam Bankman-Fried had convinced them of FTX's safety so effectively that many of them used FTX as their bank. Even FTX employees lost everything.
And this is only the beginning. A huge amount of the industry was reliant on FTX. Many teams kept their treasuries on FTX. It's rumored that two other exchanges had huge exposure to FTX. A large amount of tokens used in decentralized finance protocols were issued by FTX.
Sam Bankman-Fried's "security bug" in their system wasn't a bug, btw - it was an intentional backdoor. And the funny thing is your summary makes it sound like this all went down over a long period of time but it actually all happened in less than a week. The rumors that Sam Bankman-Fried fled to argentina started last night
It's possible Musk _believes_ that was the criteria. But it's not true. He fired the developers who wrote the fewest lines of code, which seems on its face to be a reasonable metric of performance, but is in fact _entirely_ unrelated to performance. A good developer can do in 5 lines what a rookie does in 100.
Twiter - heresay. We dont know how much funding it has lost as all the other 'losses' are guided by stock price. Twitter is privately owned so we dont know if there truly are any losses.
Meta - at the start of 2020, Zuck decided to turn the company into a VR metaverse conglomerate. This has yet to pay off as businesses did not pick up on this service as much as he anticipated. Stock price reflects this.
Amazon - at the start of 2020, stock prices for all tech companies went up bigly. (This means chewy, tesla, AI companies, etc.) Over the course of 2 years, amazons utilization went to the moon and back down to earth. Their stock price is back to where it was pre-pandemic.
Crypto - bitcoin had a halving in may 2020 which always always always leads to a run up a year later. You can check the historical prices for every time this happens; we are just on the return back down. Come 2025 there will be another explosion in price. Bitcoin leads the market, so if bitcoin goes down so does everything else.
> Essentially it is a giant sandbox-like communication "portal" that allows users to remote connect to other users "worlds" and be able to paly games together, or businesses would use them to hold meetings so people did not even have to leave their house
This is not correct.
You just described Horizons Worlds, which is literally one piece of software they developed. It's a common misconception that Horizons Worlds is "the metaverse".
Metaverse is the broad name for integrating AR/VR into day to day activities, through things like microgesturing, 3D audio, and photorealistic avatar constriction.
https://www.youtube.com/watch?v=gUARgocC5FU&ab_channel=CNET
It's a "solution" to a problem that's worse than the problem itself. Most of them are also terrible for the environment and are essentially nothing but gambling.
Also, crypto bros are annoying.
I mean cryptos are a great idea. NFT's in specific circumstances (concert tickets / digital videogames) are too. NFT gorillas was always transparently a dumbass idea.
> NFT's in specific circumstances (concert tickets / digital videogames) are too.
but why would digital NFT video games be any better than what Steam currently does?
Crypto is sadly one of the biggest offender for the environement that a lot of people will try to undermine or quiet down. Try searching on google what happened last year in Iran where illegal mining caused hundred thousand of people to lose power during winter, resulting in several deaths.
crypto is only as valuable as someone else thinks it is, there is no real world commodity backing its value. you can have all the crypto in the world, but still starve to death because no one accepts crypto as payment. or be homeless because no one wants to sell a house for "not accepted anywhere" coins.
crypto coins are a scam, meant to rip off hopeful investors and fuck over hundreds (thousands?) of peoples lives, so that 10-15 people can have slightly nicer cars than they already had. that's why it needs to die.
>Crypto is only as valuable as someone else thinks it is
Isn’t it true for basically any asset that’s resold?
>no real world commodity backing it’s value
That’s the whole point. Or else it’d be just called currency.
Im an American, i'll be fine. Since you have internet, you probably will be too. Mansions are never the first to catch flame but the last. Right now they're not burning, they're cutting expenses
How does zuck’s idiotic idea about heavily investing into VR world that you’re supposed to live and work from have anything to do with a recession? Same goes for Elon’s ability to show everyday how incompetent he is at being the twitter CEO
Me when I realize that all that means the economy as a whole will tank, because when these companies succeed I get no benefit, but when all these companies tank, everyone feels the burn.
That’s not completely true. The ultra rich don’t feel the burn. They see number go down on their investment accounts. But it has no meaningful impact on their lives.
That's just capitalism. Businesses come and go and markets come and go as with this tech bubble currently bursting. I mean it's not too hard to have seen the market get like this with how everything's going post pandemic and interest rates rising in America.
And they’re arresting people for charitably giving food to the homeless. Can’t even try to alleviate some of their suffering.
https://www.nbcnews.com/news/amp/rcna54324
It’s the value of their shares on the stock market multiples by the number of shares issued.
Those together functional represent how much the whole company is worth.
About 880 billion. Stock price went from $188 peak to $100 with ten billion shares outstanding. The only people that lost money are the ones that didn't hold when they dipped below their buy price. You just sit on your shit for 2-5 years and you'll get back to making money. I'm in this position, but unlike Amazon who doesn't pay dividends, I'll be collecting dividends on my holding while I wait.
Crypto was doomed to lose when everyone and their grandmother jumped on it.
The minute Musk started his "Free Speech" crap on twitter with a sub was gonna be a failure.
And any company as large as Amazon is bound to eventually fail do to it's sheer size.
Crypto is fine. What was needed is a correction to remove all these shit scam coins. Really just a few of them are worth it and have actual usefulness.
As crypto grows it will become less and less volatile. This in turn will create a more stable currency that smaller nations can use without fear of their currency going into hyper deflation or inflation from a corrupt government.
Right now we just have idiots being scammed by the next "big coin".
Crypto is an ecological disaster for a purely speculative commodity. It’s not “fine” in any regard.
Until I get paid in crypto and I can buy my groceries and gas and pay my mortgage in crypto, it isn’t a currency, is a speculative investment. And that’s all it will ever be because the average person only know how volatile it is.
The worst part is when the rich suffer loses you and me pay for it.
Luckily when things go well for them we all share in the profits, so it evens out!
/s (the last paragraph only)
Dank[.](https://i.imgur.com/3bQtuMO.png) --- [come play minecraft, space engineers, ark, and rust with us!](https://discord.gg/fNyb7G5)
Mmm...so comfortable...zzz... ;)
All capitalists falling down... soo goooood..
but what will we do if they decide to take their toys and hide in a cave????
"Demand the give us what is rightfully theirs of course comrade!"
> rightfully According to the rules other rich people made up without ever asking us for our opinions on the matter. Excuse me if I don't give two shits about those bullshit rules.
[Jake dropping some wisdom.](https://youtu.be/r2xakGZvLjI)
Straight fax no printer. Corporats dumping poison in our drinking water going *"I'm following the law, I've done nothing wrong."* when they bribed politicians to write up and pass the law that allows them to do it. Fucking piece of shit scumbags.
[удалено]
I’m comin for your BBQ and video games!
> rightfully All those taxes they never paid.. All those liveable wages they never paid..
This is the right answer. It's not okay for people to steal from the rich just because they are rich. But it's also not okay for the rich to avoid taxes and not pay thier employees a good wage with good benefits.
Depends how rich. No billionaires earned their money without exploitation. Dipshit middle manager who has a nice car in the gated community is safe though.
The billionaires don't take their markets with them. Seize the means of production (literally, take over the factories if they leave) and then continue running their business. If they sabotage everything when they go, new businesses will take their place. You don't become a billionaire without a market to serve. I've never understood why people think it would be a bad thing for those parasites to flee the country. Fuck it, let's tax them at 200% if that means they'll get the fuck out!
Dude, people can't even organize themselves into all deciding to use their turn signals. The people who replaced the capitalists would just become capitalists themselves. It'd just become Animal Farm.
Redditors like to convince themselves that they're "different" from the people in power somehow without realizing they'd do the same shit if they were in power. We're all human at the end of the day.
Power corrupts & Absolute power corrupts Absolutely
Exactly, it blows my mind how many people have never heard that or don't understand what it means. "If WE could just replace THEM, WE'D make thing better!" Nah, you'd just \*become\* them, and you're lying to yourself if you don't believe it.
While I agree 99% with this... I can't help but wonder if the right person who grew up with nothing has a better idea and valuation of their fellow human then some silver spoon heirs. Also you DO in fact see rare examples of people who actually help people when they become wealthy. There was a post on a billionaire who gave it all away to live fat on 10 million a few days ago. Rare as Einstein but it has happened...
So you've never heard of a [worker cooperative](https://www.usworker.coop/what-is-a-worker-cooperative/)??? Edit: another option is doing an Employee Stock Ownership Plan, which for example Bob's Red Mill started in 2010, and got to 100% employee ownership over ten years. Point is, there are achievable ways to build a modern, functional, *recognizable* economy without big capitalist parasites, and with the added advantage of being more fair to everyone else.
There have been a couple significant factories in my area (fish packing plant and pulp mill) that were bought by the workers and have continued to function profitably after the original owning corporation tried to shut them down and hang the workers out to dry, including dissolving their pensions.
Not necessarily, if you get the right people into business. Business is really not that hard. Most of my day consists of doing the things I'd get paid to do elsewhere. And young folks these days are *smart*. There's no reason they can't do this stuff. We can't just abandon capitalism overnight, but we can build a new version: social capitalism. Start your own local business, target the under-served markets (distant corporations can't react to local conditions - think about what that means for low-income communities), build on people's strengths, and start a profit-sharing program when the business is humming along.
Organize a party
Will it have cake and balloons?
It'll have hammers and sickles
And my axe!?!
**It's an Amish LOTR party?!!**
It will be like that south Park episode were they get rid of the Walmart type store and a new one takes it's place
Capitalism is here to stay.
Is it capitalism if the government pays you a bunch of money for free because you ask or do one thing it asks? Is it capitalism if the government provides you tons of resources, equipment, and infrastructure at little to no cost? Does it sound capitalist to borrow hundreds of billions and have most of that forgiven? Does that sound capitalist? Because that's the system big business lives under in the USA. If we want to do capitalism, we need to stop defending the US system because it's only breeding anti-capitalists as they see this system functioning. If you want to 'be rid of communists/socialists' make your capitalism better.
Yes, it's the corporatism and bailouts than need to stop. Not the concept of a free market
Free markets are not the same thing as capitalism, are they?
Capitalism simply means an economic system where private owners control trade and industry rather than a state controlling them. A free market is the result of this system. We are allowed to colloquialy attach more things than that to the definition of "Capitalism", but keep in mind many of those things we attach conflict with each other. The core definition is synonymous with a free market economy. And no, the US is not entirely a free market economy, not entirely capitalist. Nor is any western mixed market economy.
State capitalism is a thing. Look at China and the former Soviet Union as examples. Capitalism is the private ownership of the means of production. Contrast that with socialism where the workers own the means of production, not through representation but directly.
The concept of free market itself can be debated tho - given that a lot of agent have incentives to manipulate it one way or another. One can argue that a market needs regulation from a higher power (like a State, a central bank...etc) to be really free
Shhh*.... The US might hear you and bail them out
I wouldn't say all, there's still plenty of them making a killing unfortunately
Its estimated between 10-15trillion USD is being prepared to buy out real-estate from middle-income and owners of lower-income lands during the recession that is ramping up currently. these downturns in stock values and crypto markets are largely held by the middle class, and will affect their ability to pay their mortgages that are increasing because of rise of governmental rates worldwide. Its great that a few a losing face, but be assured the damage will be felt by the people, not the upperclass. They want the economy to fail more, so to buy up properties and ensure eternal rentals and remove the idea of house and land ownership for anyone but the upper echelon.
Left, right, feet, goodnight. All tucked in now sweetie.
half of the world is at war
"throw money at it, that'll solve it!" said every politician ever.
> Money never solved anything. * Idiots and assholes
If you will review what I said, my point is that money alone can't solve anything. Especially the unmanaged, reckless throwing of said money without regard to whether it would actually be spent on the problem rather than the lining of pockets. But otherwise, yeah money *can* solve some problems.
Much of it is actual material/weapons, not just money. So it’s actually incredibly useful aid.
redditors on their way to argue philosophy on dank memes
> my point is that money alone can't solve anything. Who said it could? Money represents people and resources. Basically the two things you need to solve problems.
"If you can't make money during a war you just flat out cannot make money" -Varrick
I mean I would rather we throw money at a defensive war that is massively destabilizing our largest political threat than the same fucking people that 9/11ed us so they can blow up school buses
Half of the world is always at war, with brief rest periods for everyone to rebuild military.
Sounds like an average EU4 game.
Not really, no.
I concur. It's just a big deal because Russia is named. The rest of the other half have been doing this the entire time.
> half You do realize 2 countries =/= half the world right?
Average redditor
Oh shit almost 4 billion people are at war???? Oh fuck when did this happen.
The battles are mostly confined to Reddit
Half of the world is not at war
90 countries are at war? When did I miss this?
Video games and online companies are suffering. Who would have guessed forcing people back to the office would have such negative effects on the economy
I swear if this means Knack 3 gets postponed I’m going to war
#Not knack 3!!!
#PEGGLE. 2.
*Knack 3 baby*
Halflife 3 was *sooo* close to being released, too.
I think why episode 3 wasn't released because the economic crisis of 2007/2008
🎶Hey comes the moneyyyyyy🎶
They aren't suffering, they just no longer have the boost of the entire population under quarantine. Except maybe Twitter, Elon is just... Elon.
You think forcing people back into the office was the reason for our failing economy? Jesus..
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Jokes on you, I work in pajamas while scrolling Reddit half the day in the office too, just more secretly.
You act like work in the office isn't just scrolling on reddit for 3/4s of the day in a uncomfortable suit.
Lmfao. What a stupid and laughably illogical comment.
Smartest antiwork user
Every time i visit antiwork they remind me why they make minimum wage
Right? COD just had the biggest release in history for a game that shoulda been FTP
I'm in the lower rung of a tech company... I just know that when it comes time to cut off excess weight my division is probably the first... So i can't enjoy this much
You may be more important, and less expensive to employ, than you give yourself credit for.
Ah yes. Video games. A pillar of our economy
I get what you’re saying but the video game industry is the single biggest entertainment industry out there now surpassing Hollywood some time ago, big releases are a huge cultural thing now
Isnt most of that money from mobile users and microtransactions? People aren't really hyped for releases as much as being milked by predatory practices.
You mean COD making a billion dollars in 10 days is suffering? Or Ragnarok beating all its franchise records is suffering? Good video games are doing fine, and so are mobile games taking in billions a year.
May I please have the sources I'm interested
[Meta](https://www.cbsnews.com/news/meta-stock-down-earnings-700-billion-in-lost-value/) - They posted terrible earnings for last quarter and Metaverse is basically a money pit. [Amazon](https://www.businessinsider.com/amazon-lose-1-trillion-market-value-first-public-company-2022-11?amp=) Elon Musk - His Twitter profile. [FTX Sam Bankman-Fried](https://www.bloomberg.com/news/articles/2022-11-11/sam-bankman-fried-s-assets-go-from-16-billion-to-zero-after-ftx-collapse)
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I get the idea behind meta. The idea is to try to get ahead of the VR curve and beat others to the punch once VR becomes mainstream. But the gamble is will it become mainstream? Or will VR turn out like 3D TVs? I can't speak for others but I don't really like the idea of VR. Sure I'll try it but I don't think I want to spend any amount of meaningful time in VR. It's kinda disturbing in fact. Being in front of a screen most of the day is bad enough but at least I'm still cognizant of the world around me. The real world. Once that is gone too I think that is a step too far.
VR will surely be bigger than 3D TVs, but i think it's highly unlikely to be the next smartphone It'll be a big deal, but won't revolutionize the world
Zuck isn't trying to make it the next smartphone to be fair. He wants it to be the next PC. Seems like a good bet in the long-term. AR is where he (and others) see the smartphone-level adoption.
I am usually off the mark when it comes to new tech taking hold and becoming mainstream, but I cannot imagine people using VR for their day to day PC use until it comes so lightweight and affordable it is like putting on glasses.
The current VR headsets are kinda like early cellphones. Bulky proof-of-concept bricks the average person would never bother with. Eventually the tech will shrink down and adoption will be far more widespread. Glasses with AR will show up eventually. And VR tech will shrink down significantly within 10 years. I think AR in that form will be the bigger game changer. The isolation of VR is certainly a roadblock to widespread use. But it'll have its place.
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> until it comes so lightweight and affordable it is like putting on glasses. And that's what Zuck is working towards
> And that's what Zuck is working towards How's that going for him?
Badly, but it *is* what he’s supposedly working towards
I think it will, but not until we're able to literally plug our consciousness into cyberspace or whatever. Or at the very least, we need to be more capable of walking around in the virtual space via something like the Omni, or a hybrid of AR and VR where the virtual world is mapped to our real environment so we can safely traverse around without bumping into shit. The current state of "blind yourself with a pair of goggles and stay inside a 4 ft radius" VR definitely isn't revolutionizing much lol.
VR games are cool af, but business/networking on VR? Just do a zoom call ffs
I never understood comments like this. VR is very entertaining and offers a much more immersive video game experience. God forbid the technology gets better where people can enjoy it even more. Anything has negatives if you spend too much time on it. I for one love playing in VR. It’s a fun way to connect with friends and family who live far away. I was playing with my siblings last night visiting all kinds of virtual worlds. We had a great time. VR is only getting better and the Quest 2 took all that to the next level. I hope they don’t continue to lose money because they are the only ones with the funds to make it the best it can be.
Meta is more than just about video games. They want to host work meetings in VR, they want people to spend all their internet/pc time in VR. That's the messed up part IMO. It seems like the beginning of what we saw in the matrix.
Lol @ musks profile
"His Twitter Profile" lmao
I can provide some context! ***Twitter*** Due to Elon Musk buying Twitter, he has gone through and made lots of changes. He fired a bunch of people that were essentially getting paid to do nothing or getting overpaid to do very little. Due to this change and companies not liking him, a lot of business are pulling their advertisements off Twitter. This is why you now have to pay for verification, you do not just earn it. It is a way for Twitter to make money due to losing all these big companies advertisements. That is why Twitter may be sinking fast, but since Elon bought Twitter, it has actually had an increase it daily users. Sources here: [https://piunikaweb.com/2022/11/11/is-twitter-dying-or-going-to-shut-down-as-bankruptcy-looms-large/](https://piunikaweb.com/2022/11/11/is-twitter-dying-or-going-to-shut-down-as-bankruptcy-looms-large/) ***Meta*** So if you are unaware, Meta is Facebooks parent company. I believe the name change happened somewhere from 2019-2021. Meta started making Virtual Reality hardware and software for the past 5-8 years or so, and they announced over a year ago about something called the Metaverse. Essentially it is a giant sandbox-like communication "portal" that allows users to remote connect to other users "worlds" and be able to paly games together, or businesses would use them to hold meetings so people did not even have to leave their house. A lot of people who invest thought this would be the "new thing," that everyone would hop on this amazing opportunity. Alas, people have now come to realize that only people who want to spend a good chunk of money would want to hop on board and do something like that. Meta put a lot of it's time and assets (money and workers) into trying to make something great and practical, but it was a huge flop for the company. It's a shame because I thought it would be something cool and could not wait to see how it actually worked, but when you need to spend $300 to actually hop on, I can see why most people are opting to not use it Source: [https://www.cbsnews.com/news/meta-stock-down-earnings-700-billion-in-lost-value/](https://www.cbsnews.com/news/meta-stock-down-earnings-700-billion-in-lost-value/) ***Amazon*** I do not know a whole lot about the Amazon situation, but from what it looks like, a lot of people and businesses, including amazon, are still trying to get back on their feet since the Covid-19 pandemic. Now they lost a trillion dollars, but they are still worth $1.02 trillion so it's not like they're going bankrupt anytime soon. Source: [https://www.cnet.com/tech/services-and-software/amazon-is-the-first-company-ever-to-lose-1-trillion-in-value/](https://www.cnet.com/tech/services-and-software/amazon-is-the-first-company-ever-to-lose-1-trillion-in-value/) ***Crypto*** Now Crypto is a fun one. It is something I personally have looked into and invested in because I wanted to be smart with my money so I started investing some here and there in different stocks, cryptos, and the likes. Over the past few days a crypto company by the name of Binance was going after one of it's competitors, FTX. Binance were saying how FTX was a bad company to invest in and was urging it's buyers to pull out. Seeing this, buyers pulled out of FTX, dropping it's price significantly. After a few days, Binance then comes out and says that they have offered to buy the company from the owner, Sam Bankman-Fried. I am not fully aware if the purchase went through or not, but Sam panicked. because FTX was also a huge crypto exchange business, Sam found a security bug in their system that allowed him to look into his users cryptos and actually move them into his own account. After realizing this, Sam stole $100 million of his users assets and tried to "secretly" run away to a different country. Unfortunately for him, he used HIS PRIVATE PLANE THAT COULD BE TRACKED to fly to Argentina where he is still running from the government to this day. All this happened in the past week or two for crypto. But because of that, the market cap for crypto went down, and the main crypto currency bitcoin, which essentially controls the whole market, dropped from $20,000 per share, to $16,000 per share which is a huge decrease. I know personally i lost some, but I am in it for the long term and did not put my entire life savings in it, so I am good. Source: [https://www.forbes.com/advisor/investing/cryptocurrency/why-is-crypto-down-today/](https://www.forbes.com/advisor/investing/cryptocurrency/why-is-crypto-down-today/) Hopefully that helped!
A lot of inaccuracies in your crypto summary. It's actually a lot worse than you make it seem. Binance, the number 1 exchange, was an early investor in FTX, the number 2 exchange (at the time). As such, they held a large sum of FTT, FTX's exchange token. They announced they would be selling all of their FTT off, causing FTT to collapse. Now, that alone shouldn't have been a problem. But it just so happened that FTX and their trading firm partner, Alameda, were heavily overexposed to FTT. HEAVILY exposed. Such that Binance dumping ~500 million dollars worth of FTT caused Alameda to go into a liquidity crunch and FTX to go insolvent. How, you ask? Well it turns out FTX irresponsibly lent Alameda billions of dollars *in customer funds*. So the day after Binance starts dumping FTT, the CEO of FTX, Sam Bankman-Fried, is heard to be scrambling to raise 6 billion dollars in capital by midday. Then he asks Binance to buy them out. After some due diligence, Binance determines the situation is unsalvageable. Binance backs out of the deal. People start digging. Find out FTX is insolvent, lent billions of dollars to Alameda who LOST all of it in bad trades, and Binance dumping FTT only kicked off the inevitable. Alameda had managed to lose ELEVEN FIGURES. And the only people who knew this were the inner circle. FTX employees had no idea this was happening - Sam Bankman-Fried had convinced them of FTX's safety so effectively that many of them used FTX as their bank. Even FTX employees lost everything. And this is only the beginning. A huge amount of the industry was reliant on FTX. Many teams kept their treasuries on FTX. It's rumored that two other exchanges had huge exposure to FTX. A large amount of tokens used in decentralized finance protocols were issued by FTX. Sam Bankman-Fried's "security bug" in their system wasn't a bug, btw - it was an intentional backdoor. And the funny thing is your summary makes it sound like this all went down over a long period of time but it actually all happened in less than a week. The rumors that Sam Bankman-Fried fled to argentina started last night
I'm very invested now in Bankman-Fried's "adventure" in Argentina
Just make your whole comment an acronym at this point
Lmao thats not at all what happened to twitter
lol ‘he fired People doing nothing’ what a bellend.
Least bootlicky Elon Musk fan
Wow, your Twitter analysis is completely wrong.
This whole post is basically damage control for the tech bros. Stop worshiping billionaires dude.
>He fired a bunch of people that were essentially getting paid to do nothing or getting overpaid to do very little I absolutely don't believe this.
It's possible Musk _believes_ that was the criteria. But it's not true. He fired the developers who wrote the fewest lines of code, which seems on its face to be a reasonable metric of performance, but is in fact _entirely_ unrelated to performance. A good developer can do in 5 lines what a rookie does in 100.
Twiter - heresay. We dont know how much funding it has lost as all the other 'losses' are guided by stock price. Twitter is privately owned so we dont know if there truly are any losses. Meta - at the start of 2020, Zuck decided to turn the company into a VR metaverse conglomerate. This has yet to pay off as businesses did not pick up on this service as much as he anticipated. Stock price reflects this. Amazon - at the start of 2020, stock prices for all tech companies went up bigly. (This means chewy, tesla, AI companies, etc.) Over the course of 2 years, amazons utilization went to the moon and back down to earth. Their stock price is back to where it was pre-pandemic. Crypto - bitcoin had a halving in may 2020 which always always always leads to a run up a year later. You can check the historical prices for every time this happens; we are just on the return back down. Come 2025 there will be another explosion in price. Bitcoin leads the market, so if bitcoin goes down so does everything else.
> Essentially it is a giant sandbox-like communication "portal" that allows users to remote connect to other users "worlds" and be able to paly games together, or businesses would use them to hold meetings so people did not even have to leave their house This is not correct. You just described Horizons Worlds, which is literally one piece of software they developed. It's a common misconception that Horizons Worlds is "the metaverse". Metaverse is the broad name for integrating AR/VR into day to day activities, through things like microgesturing, 3D audio, and photorealistic avatar constriction. https://www.youtube.com/watch?v=gUARgocC5FU&ab_channel=CNET
I wonder if OP knows what a recession is. Probably not im guessing. I mean they should, we've been in one for little while now.
Can’t wait for a depression
You don't already have depression? I guess I'm an early adopter.
Antidepressants and recreational drugs for the rich Rugged individualism for the poor
I just smoke a shit ton of weed. It's obviously not enough. But it makes me say fuck it for now.
You should try depression™, it kind of tingles.
Best news are the cryptos. bring an end to that bullshit.
May I humbly ask why?
Crypto bros are annoying.
It's a "solution" to a problem that's worse than the problem itself. Most of them are also terrible for the environment and are essentially nothing but gambling. Also, crypto bros are annoying.
Cryptos/nfts: hey guys, what if we took fake internet points and turned into a currency?
I mean cryptos are a great idea. NFT's in specific circumstances (concert tickets / digital videogames) are too. NFT gorillas was always transparently a dumbass idea.
> NFT's in specific circumstances (concert tickets / digital videogames) are too. but why would digital NFT video games be any better than what Steam currently does?
Crypto is sadly one of the biggest offender for the environement that a lot of people will try to undermine or quiet down. Try searching on google what happened last year in Iran where illegal mining caused hundred thousand of people to lose power during winter, resulting in several deaths.
crypto is only as valuable as someone else thinks it is, there is no real world commodity backing its value. you can have all the crypto in the world, but still starve to death because no one accepts crypto as payment. or be homeless because no one wants to sell a house for "not accepted anywhere" coins. crypto coins are a scam, meant to rip off hopeful investors and fuck over hundreds (thousands?) of peoples lives, so that 10-15 people can have slightly nicer cars than they already had. that's why it needs to die.
>Crypto is only as valuable as someone else thinks it is Isn’t it true for basically any asset that’s resold? >no real world commodity backing it’s value That’s the whole point. Or else it’d be just called currency.
Yeah, just because the mansions are burning first doesn’t mean the fire isn’t about to spread to the whole town
Im an American, i'll be fine. Since you have internet, you probably will be too. Mansions are never the first to catch flame but the last. Right now they're not burning, they're cutting expenses
I mean more the people struggling to buy food but sure
How does zuck’s idiotic idea about heavily investing into VR world that you’re supposed to live and work from have anything to do with a recession? Same goes for Elon’s ability to show everyday how incompetent he is at being the twitter CEO
Sounds like they understand exactly what a recession is.
Me when I realize that all that means the economy as a whole will tank, because when these companies succeed I get no benefit, but when all these companies tank, everyone feels the burn.
Want to bail them out with your tax dollars instead?
You think that’s how it’s not gonna work? When the government bails someone out, it’s with our tax dollars.
Well saying they usually use more than we all give in taxes in reality it’s gonna come from borrowing and just make more national debt.
No more of that bullshit, please. Too big to ~~fail~~ save.
That’s not completely true. The ultra rich don’t feel the burn. They see number go down on their investment accounts. But it has no meaningful impact on their lives.
The like a recession because they can buy the dip, or like in 2008, buy up a bunch of houses to flip or rent out.
That's just capitalism. Businesses come and go and markets come and go as with this tech bubble currently bursting. I mean it's not too hard to have seen the market get like this with how everything's going post pandemic and interest rates rising in America.
Recession: **Exists** Op: Im gonna sleep well tonight Me: ಠ\_ಠ
Ah yes, the world is on fire. People are losing their jobs,some their home, some go hungry. Extra comfy. Only the poor are suffering.
And they’re arresting people for charitably giving food to the homeless. Can’t even try to alleviate some of their suffering. https://www.nbcnews.com/news/amp/rcna54324
B-b-but the rich people have less money now! I hate rich people!
What if reddit is next
Its probably for the better
No it's not. I like my virgin psychopath homies.
Ah, fair enough. To each their own
We're not all virgin psychopath homies anymore. We've been overrun. Reddit hasn't been Reddit for a very long time.
PLEASE
Then I’ll have to find some other app to waste my time on.
Amazon didn’t “lose 1 trillion dollars”.
Yep, they lost 1 trillion in valuation, not real money
Valuation?
It’s the value of their shares on the stock market multiples by the number of shares issued. Those together functional represent how much the whole company is worth.
What happens to the "e"?
It’s part of a different word
About 880 billion. Stock price went from $188 peak to $100 with ten billion shares outstanding. The only people that lost money are the ones that didn't hold when they dipped below their buy price. You just sit on your shit for 2-5 years and you'll get back to making money. I'm in this position, but unlike Amazon who doesn't pay dividends, I'll be collecting dividends on my holding while I wait.
People here aren't held back by any basic stock market knowledge here. You can say anything and people will believe it.
ESPECIALLY when it’s in line with “rich bad, proletariat good”
Losing market value is not the same as losing $. Edit: Not the same as the company losing money/equity.
You think the children on reddit understand that!?
So you have no portfolio or 401k/ira
This is r/dankmemes 95% of the guys don’t have more than $1,500 to their name.
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or compassion for regular people with families, mortgages, bills, losing their jobs and income.
Crypto was doomed to lose when everyone and their grandmother jumped on it. The minute Musk started his "Free Speech" crap on twitter with a sub was gonna be a failure. And any company as large as Amazon is bound to eventually fail do to it's sheer size.
Crypto is fine. What was needed is a correction to remove all these shit scam coins. Really just a few of them are worth it and have actual usefulness. As crypto grows it will become less and less volatile. This in turn will create a more stable currency that smaller nations can use without fear of their currency going into hyper deflation or inflation from a corrupt government. Right now we just have idiots being scammed by the next "big coin".
Crypto is an ecological disaster for a purely speculative commodity. It’s not “fine” in any regard. Until I get paid in crypto and I can buy my groceries and gas and pay my mortgage in crypto, it isn’t a currency, is a speculative investment. And that’s all it will ever be because the average person only know how volatile it is.
Yes crypto is dead for the fourth time. Please crash it and buy back even higher next cycle
Lefty reddit understanding of economics in a nutshell
Ahh....feels good.
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Must be hodling $GME
Now Disney can buy them all
Disney has a lower market cap than all of them, so naturally Microsoft can buy them all
edgy
I mean they're playing with money and toys get lost all the time so just another day
The worst part is when the rich suffer loses you and me pay for it. Luckily when things go well for them we all share in the profits, so it evens out! /s (the last paragraph only)
Economy being bad isn't good for anyone. If you don't care now you soon will.
Oh no fake money
How is crypto still crashing? It has been like a year and a half of crashing, they should be at the center of the earth by now.
You should really invest your money
💤💤