• niktemadur@lemmy.world
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    1 year ago

    Wall street is the psychotic, insatiable, dehumanizing tail that wags the dog, one petulant tantrum-a-minute to the next, and the next, and the next… perpetually.
    God forbid anyone in a corporate position of power try and do anything that isn’t indecent and corrosively myopic, else the stampeding Dow Jones zombies go on a goddamned short-selling rampage.

    But then people have been saying this for ages now, and still here we are.

    EDIT: added “insatiable”

    • Adalast@lemmy.world
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      1 year ago

      I remember a story about a CEO who decided to pay ALL of his employees well. As I remember, all of his middle management left in a huff because they no longer had their higher earnings to hold over their subordinates and feel superior, all of his friends ostracized him and he essentially became a pariah.

      Yeah, Dan Price, just went to look it up. Apparently, he had to resign after some allegations against him, which turned out to be false. Something smells off about a man paying employees fairly suddenly getting trumped-up charges that never got properly investigated before being referred to the prosecutor’s office literally the day after he announces the pay stuff.

      https://fortune.com/2023/04/19/gravity-payments-dan-price-assault-charges-are-dropped/

      • ArbiterXero@lemmy.world
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        1 year ago

        He resigned because someone that has part ownership in the company sued him.

        The lawsuit was basically “you’re not acting in a way that is best for the shareholders”

        Or in other words “you’re paying the employees more and me less, so I’m mad at you for treating them well”

    • Number1SummerJam@lemmy.world
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      1 year ago

      The stock market should be abolished entirely. The driving force behind big business and government decisions should be humanity, not money.

    • Maeve@kbin.social
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      1 year ago

      Interestingly enough, I just put forth the argument in another thread that dismantling the stock market would address a lot of systemic problems. I’m glad it’s not just my own thinking.