Lefties trying to understand Smaug
(media.kotakuinaction2.win)
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None of those billionaires are sitting on some giant amount of assets like the dragon. They just own shares in a company which is worth a lot of money because of its future earnings value.
Unlike smaug, who hoards wealth & stops that wealth from being put to any productive use, all those billionaires built that wealth themselves by making companies people wanted to buy shares of.
Libtards don't understand capitalism or productivity or actually taking risk. Instead they think visionaries & capitalists serve no purpose, and all the value in the world is created by dumbfuck wagies punching their timecards.
Trying to explain speculative wealth is pointless when you're talking to people stupid enough to believe in the labor theory of value.
"I dug a hole out in the forest for a few hours and then filled it back in. I created VALUE!!!!"
"Backed by the labor of the people." Isn't that what the Nazis did?
No, seriously, that's what the fools who insist on saying "NSDAP" keep telling me.
It's exactly the difference between throwing all your money under your mattress or in a safe vs. a earning interest as deposit in a fractional reserve bank, or illiquid investments like stocks or bonds.
Expecting lefties to know what happens when you have money is a fool's errand. Most of them have never had assets and live benefit check to benefit check.
Don't forget that, even thought they own shares, they don't necessarily have a lot of influence over the day-to-day running of the company.
If they own the majority of shares, the best they can do is hire and fire executives, who are required by law to maximize shareholder profit.
I wonder if it ever occured to leftists that the billionaires who try to pay their employees more than they're worth are not billionaires anymore; not because it costs them profit to do so, but because it causes the companies to fail completely?
Even if it occurred to them, they don't care. "Haha go bankrupt then! See what it's like to live on the other side of inequality for once in your life." They are stupid and evil.
I wouldn't say Zuckerberg serves a purpose. People who produce actually useful stuff do, though, even if they are billionaires.
This meme is just created by someone who doesn't understand economics.
The zuck serves a purpose alright, but it's not primarily an economic one.
It really depends, Zuckerberg is doing a shit job now, and guess what? That's reflected in the stock price. Capitalism generally works.
I have no doubt that Zuckerberg did a lot of really visionary things & brought a lot of innovation to social media in the early days of facebook's development. He entered into a highly competitive emerging area & emerged victorious because he was able to mastermind the best product.
Of course he's made a number of bad decisions in the last few years that have a lot of people bearish on Facebook's future.
Well, he's a visionary in collecting people's data and selling it to the highest bidder. But I'm not sure that is a thing to cheer.
They don't actually take risk, though. When their shit doesn't work, they just get bailed out.