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by soSadm4n 1469 days ago
Anti-trust aimed at individuals is called taxation. Being able to shelter wealth accumulation through loopholes that only benefit rich people asset classes is so obviously classist (and tacitly ageist against youth since it’s all old people calling these shots).

Their ad and marketing budgets are basically to woo public opinion into belief billionaires should exist, however.

Look at the Coinbase story; employee and investor wealth gone. CEO wealth intact. And society gains little to nothing net new from enriching that fraud.
1 comments
robertlagrant 1469 days ago
Employees did not lose the money they were paid for their labour. What employee wealth is gone?
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soSadm4n 1469 days ago
Offers that got pulled, 18% who were laid off, compensation based on speculative value that’s gone, while the CEO walks away with a much more certain personal position. All for placing a logo adjacent to others engineering feats (unless the Csuite at Coinbase is secretly Satoshi Nakamoto).

Billions locked up in deference to a handful of CEOs means less liquidity in the open market. Which is intentional, I understand; if dollar value collapses these guys might have to work to survive, and of course humans could no longer do the necessary trade of real things to stay alive and prosper if an arbitrary financier cannot claim an arbitrary % of economic activity thousands of miles away.

Human agency is coupled to wishful thinking still. Which is understandable; we only just crossed the threshold of <50% of adults believing in higher powers. Was still 80% around 2000.

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robertlagrant 1468 days ago
I may be misreading, but there are several non sequiturs there. Pulled offers suck, but no one owes anything before they sign a contract. There is a level of opportunity cost, but that's not the same thing. Signed offers are getting a month's salary I think, which again reduces it to opportunity cost rather than loss of wealth.

People being laid off is not lost wealth.

Speculative value is not wealth.

"Billions locked up" requires an explanation. People with money generally invest it in assets or other companies. Who is locking up billions? Why? Is it a meaningful % of the total money supply?

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