points by goda90 1 day ago | 0 comments
I don't think most Americans are thinking about their 401Ks when it comes to corporate behavior. They're thinking about high prices, lower quality, poor service, externalities(pollution and such), low wages, poor working conditions. I don't think public markets will fix those things, and some argue they'd make them worse.
[–] IAmBroom 1 day ago
[–] goda90 1 day ago
My reply is in response to this statement:
"I don't think most Americans have a problem with rich people buying nice houses and nice cars, and using their wealth to pay for private staff. I think the real problem is how much of the wealth is allowed to stay off public markets. Cargill is worth more than $50 billion and its stock is not available on public markets. The growth in wealth of most AI companies - Anthropic, OpenAI - happened off of public markets, and so none of it trickled into the American middle class by their retirement accounts."
They're still wrong, but your argument is a non-sequitur.