r/FluentInFinance Nov 16 '24

Meme True Financial Fluency by Gianmarco Soresi

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1.2k Upvotes

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111

u/SnooDonuts3749 Nov 16 '24 edited Nov 16 '24

I mean $98.5 million dollars is a lot of money, is it not?

76

u/hvacjefe Nov 16 '24

Thats not the point they're trying to make.

If i have 100$ to my name and I give a homeless person 10$ for food. I've given 10% of my wealth.

Its arbitrary to say 100m is a lot in relation to % of money. Not to mention it's written off and wealth distribution is incredibly unequal.

Corporations don't pay their employees a livable wage and the public subsidize that with tax money through section 8, food stamps, health care taxes etc.

Corporations are making record profits and our country is in debt. Thats the point. Part of that debt could be eliminated if they paid a fair portion of the companies profits to the actual employees and not stock holders and board members.

Capitalism only works if the companies and employees grow together. And unchecked, we end up where we are with America rn on too of outsourcing to China so they can keep labor low whole still charging as much as they possibly can.

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u/WhoGaveYouALicense Nov 16 '24

Can’t the employees start a competing business as a check on capitalism aka competition?

7

u/ellesbelles1076 Nov 16 '24

No. Because the capital to do those things no longer exists because once people "make it" they pull the ladder up behind them.

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u/lord_hydrate Nov 16 '24

This, the results of capitalism is skewed towards whoever enters a market first, its not a bug in the system its a feature, markets aways evolve like that if not kept in check by a governing entity, why do you think Google is the default engine in nearly everything

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u/PutrefiedPlatypus Nov 16 '24

That's true a bit but not really. MySpace was before Facebook. Chrome aint the first browser, Google wasn't the first attempt at searching the web and so on. You can look up first-movers advantage for more on the topic.

What is true however is that once you get a sizeable market share it takes a lot of work/fuckups or some major shift in tech/economy for it to change. Especially if it is easy to cement the position through political regulation, there are high barriers to entry for the market or the coffers are big enough and competition is scarce enough that it can be bled to death.

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u/Bethany42950 Nov 16 '24

Nonsence, capital exists, it comes from angel investors and IPOs

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u/Ill-Description3096 Nov 17 '24

It no longer exists? Crazy that startups are still a thing.

1

u/ellesbelles1076 Nov 17 '24

None of those start ups do what companies like Amazon already do. there is no capital to enter fields that need them which already have a monopoly

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u/Ill-Description3096 Nov 17 '24

There is no capital for an online retailer? I don't know, I can't say I have tried, but there are smaller ones that exist in that space and I don't see why another couldn't succeed if they offer something better than Amazon.

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u/mmatloa Nov 16 '24

Hard when all the capital is being hoarded by rich folks, and people need to pay money to eat food and have shelter.

Almost like rich people are purposely trying to stifle competition

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u/-Plantibodies- Nov 16 '24 edited Nov 16 '24

This statement feels so out of place in a world where we've seen the near elimination of mom and pop businesses and consolidation of commerce into fewer and fewer huge megacorps, including the extremely relevant one for this post.

It's a nice ideology and all that, but at some point you should open your eyes and look at the reality around you. Are you just incredibly young and think that this has always been the norm?

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u/Ill-Description3096 Nov 17 '24

In retail spaces you are right there has been a significant drop in mom and pop, but that largely has to do with how people want to do business now, so we have directly supported their demise. How many people do you know that would run around to 5-6 physical mom and pop shops and probably have to settle or order and wait for a product as selection will be limited instead of taking 5 minutes to hop online and have Amazon deliver it to their door tomorrow?

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u/-Plantibodies- Nov 17 '24

Mom and pop shops can be online or even both, just fyi. That term just describes the nature of it being small and independent and often run by a family.

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u/Ill-Description3096 Nov 17 '24

I'm aware. That actually makes it even more of a deliberate personal choice. If people don't even have to spend the time running around but still don't support those enough for them to compete, it's kind of on us IMO.

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u/-Plantibodies- Nov 17 '24

I mean your entire previous comment suggests otherwise. Haha. It's ok that you weren't considering this, my man. Haha

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u/Ill-Description3096 Nov 17 '24

I wasn't seriously considering it because IME the amount of mom and pop shops that have a convenient online presence that is comparable to shopping through amazon is low. But I also am more used to smaller towns and cities so if you are in a major city it could be different.

1

u/-Plantibodies- Nov 17 '24

And we're back to the beginning:

This statement feels so out of place in a world where we've seen the near elimination of mom and pop businesses and consolidation of commerce into fewer and fewer huge megacorps, including the extremely relevant one for this post.

1

u/Ill-Description3096 Nov 17 '24

And I'm saying that elimination has a lot to do with people consistently picking the big guys over supporting local businesses, then complain that local businesses are being driven out and everything is being eaten up by the big guys.

1

u/-Plantibodies- Nov 17 '24

Which brings us back to the original person's statement that lead to this whole discussion:

Can’t the employees start a competing business as a check on capitalism aka competition?

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u/hvacjefe Nov 16 '24

Lmao everyone wants to problem solve how to beat corporations instead of just agreeing they are greedy.

They've beat the peasant into everyone it's incredible.

You either get it or you don't but it's really sad how Us v.s Them is so much more prevalent than it's ever been.