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this post was submitted on 29 Jan 2024
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Technology
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Management greed, stupidity, and self serving is perennial. Nothing new there.
Nassim Nicholas Taleb said in "The Black Swan" that he thought one of the unrecognized strengths of stock-market-based economies was that as publicly traded companies grow and get older, they tend to become bloated and incapable, and lose money and eventually die; and this represents a mechanism for redistributing wealth away from the investing classes ("the rich") with some of the money making its way back into society as a whole.
IDK if that's still true or ever was, but he was extremely successful working in finance; he wasn't just some idiot saying his opinions.
Doesn't work as well these days when everything is too big to fail and gets bailed out, instead of letting the economy endure the destruction part of creative destruction.
So glad we voted that one in! 😍 /S