• ℍ𝕂-𝟞𝟝
    link
    fedilink
    English
    arrow-up
    23
    ·
    18 days ago

    The problem is that we judge its success by how much the wealthiest people bet on its success in a glorified casino instead of anything else, like its positive impact on society.

    A plane can continue to fly without a pilot. The problem is not “continuing to exist”, but continued success or a spectacular crash.

    Also, I’d bet on Dropbox being able to function quite well without its CEO.

    • samokosik@lemmy.world
      link
      fedilink
      arrow-up
      1
      ·
      16 days ago

      Sure, if the CEO is replaced by someone else who can manage the company, sure. But you cannot generally expect people to manage themselves. That’s why communism never worked and never will.

      Also, what is according to you a glorified casino?

      • ℍ𝕂-𝟞𝟝
        link
        fedilink
        English
        arrow-up
        1
        ·
        16 days ago

        Your comment does not make sense. In communist countries, companies still have CEOs, they just don’t have private shareholders, they are owned by the state. Not that I care about that.

        And what I call a casino is the NYSE, when stocks offering no dividends are pumped to the stratosphere, with purely speculative buys.

          • ℍ𝕂-𝟞𝟝
            link
            fedilink
            English
            arrow-up
            1
            ·
            15 days ago

            Imagine calling stocks your economy.

            Not all stocks, though, just the ones with sharp upward trends despite the fundamentals and no dividends or voting rights. How are they different from a big-tech backed shitcoin? You don’t get part of the economic output or even the influence, they are simply a token given to you by a random corpo saying it will be worth more next month.

            • samokosik@lemmy.world
              link
              fedilink
              arrow-up
              1
              ·
              15 days ago

              You can buy a part of company. If you buy 0.00001% of that company, you surely won’t take part in the decisions as your vote does not matter. From the other side, if millions of people owning 0.00001% of the company were making decisions, it would have been very slow to respond to the competition.

              It’s all quite simple. If you disagree with company’s management, just sell the stocks. And no one is saying that company’s stock will be worth more next month.