I generally don't like blanket statements like these. TSLA has a bunch of retail investors and sort of a cult like following with Elon, but kid you not, they made a ton of money and that speaks for something.
I was in San Francisco for a while, and I feel so sad for the city. It is a beautiful city, but now a days, all I see is homeless, piss on the roads, drugs, needles. There are some good areas, but most of the downtown and touristy areas are like that. I pass by civic center bart station every day (5+ years now), and there are people standing there selling drugs (often youth 18+ or early 20s), and there are never police there, ZERO times I saw police catch someone. I think the whole city is pretty much corrupt, law enforcement and justice department included. It need a huge political reform with law enforcement and justice department that have great integrity, and I think thats the only way to save the city.
I’ve been visiting a bunch of cities in the past year and it’s not just SF that’s like this.
I don’t know if income inequality is necessarily the cause but I do know it has drastically gotten worse in the past 15 years and US income inequality is now going to be the worst it has ever been in 120 years.
It does not get any revenue from Ads. That is the reason why iOS 14 is making it very hard for Apps to make any money outside of the going through the App store (30% cut). This is brilliant from Apple because, it hits 2 birds with 1 stone - Win for consumer from privacy standpoint, Win as a business since it forces a lot of apps to be converted to paid apps, which will flow more $$ to Apple.
Valuations like these are unsustainable, and so far fetched from reality. It is only a matter of time before TSLA gets a correction, which will drop the stock ~ 30 - 40% from its ATH.
Looks like YC Research is no longer affiliated with Y Combinator, and has been renamed to OpenResearch. I wouldn't be surprised if their legal entity name hasn't changed from the original.
I hope that at least one executive ends us spending some jail time, instead of settling the case (which I think is most likely). Price fixing generic drugs will leave out access to those that are most financially vulnerable, all while coporationss make big bucks.
I think at least one is likely to go to prison, like in the Christie's/sotheby's case, especially if someone flips and acts as an informant. Dont count on it being for very long though.
If officers had to go to jail when their corporations committed crimes then you'd never be able to get competent capitalists to run them. Society and the stockholders would suffer.
Maybe we'd see a shift toward companies actually being run in responsible and ethical ways, instead of the present, near total disconnect from reasonable actions and constraints.
You're saying that there aren't any honest competent capitalists and that in order to be a "competent capitalist", one must be a crook.
You can't conceive of a world where good people can run companies honestly. The only way they'd accept money to run a company is if they're allowed to get away with committing crimes.
“Through phone calls, text messages, emails, corporate
conventions, and cozy dinner parties, generic
pharmaceutical executives were in constant communication,
colluding to fix prices and restrain competition”
These things were done by people. Everyone who participated in this _personally_ conspired to commit a crime. Of course this is probably not how it will be seen in the eyes of the legal system.
It will be seen that way - people have gone to jail for antitrust stuff. Especially if one person flips on the others. Is it guaranteed to happen? No, but it might, and it has before.
If a law was broken by a corporation, how could at least one person in that corporation not be guilty of breaking that law? Was it the corporation's AI that did it?
Well, management responsibility is regulated under CFR 21 820 for medical devices. There are equivalent regulations for pharma.
Executives do go to (probation it turns out and apparently not jail all the time) because their company broke the law and they're responsible for the company.
In the Syprine case, the company was convicted of price fixing by the US supreme court. The company changed its name and then just continued with the same business practices. No hands were really slapped.
Companies are made up of people - so if the company you control breaks the law, you have personally broken the law.
