1530
Record profits drive inflation
(i.imgur.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 14 Jan 2024
1530 points (96.3% liked)
Antiwork
3632 readers
1 users here now
A community for those who want to end work, are curious about ending work, want to get the most out of a work-free life, want more information on anti-work ideas and want personal help with their own jobs/work-related struggles.
The new place for c/antiwork@lemmy.fmhy.ml
This server is no longer working, and we had to move.
Active stats from all instances
Subscribers: 2.1k
Date Created: June 21, 2023
Library copied from reddit:
The Anti-Work Library 📚
Essential Reads
Start here! These are probably the most talked-about essays on the topic.
- The Abolition of Work by Bob Black (1985) | listen
- On the Phenomenon of Bullshit Jobs by David Graeber (2013) | listen
- In Praise of Idleness by Bertrand Russell (1932) | listen
c/Antiwork Rules
Tap or click to expand
1. Server Main Rules
The main rules of the server will be enforced stringently. https://lemmy.world/
2. No spam or reposts + limit off topic comments
Spamming posts will be removed. Reposts will be removed with the exception of a repost becoming the main hub for discussion on that topic.
Off topic comments that do not pertain to the post at hand may be removed if it is deemed they contribute nothing and/or foster hostility at users. This mostly applies to political and religious debate, but can be applied to other things at the mod’s discretion.
3. Post must have Antiwork/ Work Reform explicitly involved
Post must have Antiwork/Work Reform explicitly involved in some capacity. This can be talking about antiwork, work reform, laws, and ext.
4. Educate don’t attack
No mocking, demeaning, flamebaiting, purposeful antagonizing, trolling, hateful language, false accusation or allegation, or backseat moderating is allowed. Don’t resort to ad hominem attacks against another user or insult other people, examples of violations would be going after the person rather than the stance they take.
If we feel the comment is uncalled for we will remove it. Stay civil and there won’t be problems.
5. No Advertising
Under no circumstance are you allowed to promote or advertise any product or service
6. No factually misleading information
Content that makes claims or implications that can be proven false or misleading will be removed.
7. Headlines
If the title of the post isn’t an original title of the article then the first thing in the body of the post should be an original title written in this format “Original title: {title here}”.
8. Staff Discretion
Staff can take disciplinary action on offenses not listed in the rules when a community member's actions or general conduct creates a negative experience for another player and/or the community.
It is impossible to list every example or variation of the rules. It is also impossible to word everything perfectly. Players are expected to understand the intent of the rules and not attempt to "toe the line" or use loopholes to get around the intent of the rule.
Other Communities
Server status for big servers http://lemmy-status.org/
founded 1 year ago
MODERATORS
Revenue does not mean gross profit. Gross profit does not mean net earnings. The numbers this person posted is the money the conpany gets before any operation costs. This means this is how much the product sold regardless of how much it costs to produce, package, ship, r&d, worker cost, etc. This meme has to stop its poisoning your brains
These numbers are gross profit. A quick search would verify this for yourself.
You seem to misunderstand what gross profit is because you decided to make a weird word salad.
Gross profit is the profit a business makes after subtracting all the costs that are related to manufacturing and selling its products or services.
So the numbers are relevant. It's not worker wages that are the driving inflation. It's not government handouts driving inflation. It's corporate profits that are driving inflation
Gross profit is NOT how much money a company makes after all costs. This is the basic misunderstanding. Here is an example
Kraft Heinz Quarterly Revenue
2023-09-30 $6,570
2023-06-30 $6,721
2023-03-31 $6,489
2022-12-31$7,381
TOTAL: 27.161B
Kraft Heinz Quarterly Gross Profit
2023-09-30 $2.235B
2023-06-30 $2.261B
2023-03-31 $2.113B
2022-12-31 $2.364B
Total: $8.973B
Kraft Heinz Quarterly Net Profit
2023-09-30 $262M
2023-06-30 $1,000M
2023-03-31 $836M
2022-12-31 $890M
Total: 2.988B
https://www.macrotrends.net/stocks/charts/KHC/kraft-heinz/revenue
For clarification, I'm not saying I'm against increasing labor pay. I am just saying the numbers used are misleading.
But only some numbers. Apple's, for instance, is net profit from what I can see. Heinz isn't. I haven't looked into any more of them, but they're just inconsistent.
Crappy posts like this bug me so much because it makes "my side" look like we're full of shit. There are mountains of true and verified facts to support the conclusion that workers should be paid more and corporations are ruthlessly greedy.
This exactly. We don't need to fluff or bullshit numbers just to prove that corporations are fucking over their labor and the customers.
Can mods add a caveat to a post on Lemmy?
Also:
@BarterClub@sh.itjust.works
Please edit your post title to reflect likely inaccuracy/inconsistency of some numbers. e.g.: “[may be misleading; see comments]”
As much as I hate Twitter, the feature where users can add context would be amazing on other platforms. Would love to see it on Lemmy.
You're misinformed.
Please provide a source for the definition of gross profit.
Anyone who has done accounting 101 knows that Gross Profit is Revenue less Cost of Goods Sold.
Perhaps you can pay provide evidence of how fundamental accounting is wrong instead?
paying employees a wealth generating compensation should be an operational cost, my friend.
Different kind of cost metric
What do you mean? It says they are profits right in the picture. Maybe read the thing properly before you condescendingly explain what revenue and profits mean?
They used the wrong profits to justify how to give more money to workers
The picture is using a mix of revenue and gross profits, as far as I see no net profits. Gross profit is revenue after cost of goods, but without accounting for the cost of running the business. In starbucks' case it likely means "this is how much we brought in revenue, minus the cost of the coffee, syrups, etc.". They still have to pay employees, leases, etc. before you actually get to surplus or net profit.
According to this, their net profit for 2023 was ~$4 billion. Giving the same argument with that number is a little less profound.