Supposedly, layoffs were necessary. Supposedly, we needed to save money. Supposedly, there was no other way to do it.
Now we're hearing that Meta announced a huge stock buyback. Apparently, there is money for that. Apparently, that money could not have been used to save employees.
Does anybody still buy the whole "mea culpa" from MZ or does everybody now see it as nothing but theater to keep the masses appeased?
But the wonderful economic systems of the late 19th and early 20th that you seem to be so fond of included children working in factories and mines and wages and working conditions imposed at the end of a g-n (cop, national guard, or Pinkerton).
Under what conditions in the People's Republic of China do you think your cellphone was made?
@Ghost of Tom Joad
I was detailed and succinct. You can lead a ja----s to water but you can't make him drink.
I think the only guy on this thread suffering from dunning kruger is the genius that thinks hayek preceded from pinochet lol. Guess that’s what happens when you get your political perspective from vapid celebrities and Reddit boards.
...and you suffer from Dunning Kruger
@3cxb+1kZXTdxS you’re swinging out of your league here bro
@Ghost of Tom Joad
The world will never be perfect and life will never be fair, but most people would prefer a market in which all govt subsidies and bureaucracy are relinquished so that the market can be permitted to bring itself to equilibrium naturally rather than having politicians cultivate monopolies and extract as much as they can from society thus exacerbating inequities under the fake guise of humanitarianism. What you attribute to "late stage capitalism" are problems caused by fabian socialist intervention justified by a false sense of moral superiority.
@Ghost of Tom Joad
I thought I was clear in my initial reply, but you clearly don't know much about economics so I'll try to be patient with you. The "cronies" are the state and the corporations working together in a mixed economy. This is not a function of capitalism, but socialist policy.
Check your 6th and 7th planks of communism, as well as the 2nd and 5th planks for good measure. Your complaints stem from the gradual introduction of these planks into the market economy, not from capitalism.
Again, it's in the best interest of the state and billion dollar corporations to convince people like you that socialism will fix all your problems. In reality, it only makes them worse.
Anyone care to explain why reinvesting cash into a business that just lost $30 billion last year is a bad thing?
Ooooh, a "Wharton MBA"!
Wankingmotion.gif
Full disclosure: I didn't go to Wharton, but during my career I worked on a project with one of their department chairs.
Instead of attacking a socialist straw man, why don't you try to defend the current US form of "crony capitalism" and how it serves people? It's a fail if your solution to a capitalist system that fails the majority of people is "more capitalism"
@Ghost of Tom Joad
Oooh, "Econ 101"...
You know there's more advanced courses in the subject don't you?
that's exactly his point. as someone who got their MBA from Penn Wharton, even college freshmen understand planned economies are antithetical to capitalism and the end result is obviously cronyism that serves as a function of socialized subsidies, rather than a consequence of a market economy. it's in the best interest of the state and billion dollar corporations to convince people like you that socialism is the answer to all your problems.
@2ivq+1kZXTdxS he doesn’t know what he’s talking about. This is the caliber of the socialist brain on full display. They can never hold up to scrutiny, that’s why they always demand censorship.
That's what Hayek learned from Pinochet.
what are you even talking about? pinochet's rise to power didn't even come until 30 years after the road to serfdom was published let alone written. pinochet was a neoliberal just like keynes, who dictators love given that economic planning around unlimited spending gives the state absolute power under the pretense of being a surrogate of "the people". but just as bakunin said to marx's face, when you're being beaten with a stick, it hardly matters whether its "the peoples'" stick.
working in factories and mines and wages and working conditions imposed at the end of a g-n
because that didn't happen under lenin, st-lin, kruschev, brezhnev, mao, pol pot, kim il-sun, kim jong-il, kim jong-un, ho chi minh, castro, or the sandanistas?
@2usn+1kZXTdxS Lol ok Karl. Nobody’s stopping you from building your own co-op on your commune. But please don’t insult the intelligence of others by forcefully imposing your childish utopian fantasyland upon others. It makes you look lazy, uneducated, and authoritarian.
Oooh, "Econ 101"...
You know there's more advanced courses in the subject don't you?
But the wonderful economic systems of the late 19th and early 20th that you seem to be so fond of included children working in factories and mines and wages and working conditions imposed at the end of a g-n (cop, national guard, or Pinkerton).
...and that's the only way such a brutal economic system as Libertarianism can be imposed, with violence. That's what Hayek learned from Pinochet.
You don’t need to be a libertarian to understand there’s nothing capitalistic about a planned economy. Anyone that’s taken a 101 macro course knows this.
Oh good. It's not a party until someone breaks out the libertarian argle-bargle
buybacks are a reinvestment into the company
late stage capitalism
the mythical "late stage capitalism" you're witnessing are the failures of an increasingly mixed economy exacerbated by the progressive movement of the early 20th century. free market enterprise ended in the US a long, long time ago yet has nonetheless become the scapegoat for every uneducated (or perhaps miseducated) socialist since then.
Facebook and other FAANGs are now using the same tricks other companies use to please investors.
Facebook and FAANG are old news -> very soon there will be new kids on the block and they will rock the boat of the old guard mightily..
@Ghost of Tom Joad this board is adults only kiddo. shill your 200 year old illiterate economic ghost stories to the other children on reddit.
We all know the script. We all know the playbook. The question is, why do we choose to be the pawns?
Facebook and other FAANGs are now using the same tricks other companies use to please investors.
Meta is a public company so obviously needs to meet street's expectations. Rebel wannabe's like Z-s-u-k are candidly reminded that if they play outside the sandbox, regulation intervention may come their way to put them in place.
Mea culpa's don't exist, is just a show for the public and for the troops that are still there who are soon to find out the true meaning of the word efficiency.
Meta is about to become a sweatshop, with an insane amount of back stabbing across all levels.
The buyback is a desperate move to pump the stock up and restore some confidence.
Are you new to late stage capitalism?
By "there was no other way" they mean "no other way to funnel the value of exploited workers into our already overflowing coffers"
Time to end capitalism, it's unfixable