Content
@
0 reply
0 recast
0 reaction
Thumbs Up
@thumbsup.eth
If stocks didn’t exist, Elon, Bezos, and Thiel wouldn’t be megabillionaires. They’d have to pay themselves and their investors with real income not with this funny money that they can’t actually sell without it rapidly depreciating. All of the insane things rich people do with borrowing money to acquire things essentially for free is because stocks exist, and thus merely eliminating one thing (shares of companies) would radically reshape the world we live in, what wealth means, and the nature of power. Discuss.
6 replies
3 recasts
16 reactions
a1z2
@a1z2
I like where this thought experiment begins: stock markets make billionaire CEOs, and the power that comes from that is questionable. To me, though, I wouldn’t author restrictive legislation to make that impossible. Freedom is great. Instead, I’d ask what outcome would I like to see? And that would be easier access for laypeople to get into venture investing. Make it easy for people to get in early to have more transformative wealth opportunities. That’s one aspect I like about crypto.
1 reply
0 recast
0 reaction
Thumbs Up
@thumbsup.eth
I think the direction you propose is in line with what a lot of crypto folks are aiming for, so it is a likely outcome. My worry is that it’s still predicated on a return that comes from a market of external buyers. I don’t see this dynamic as honest, nor sustainable. If we define venture investors in the so-called “venture communist” sense wherein they are lenders who become part of an interlinked cooperative venture, then I think that works. Otherwise I’d prefer crowdfunding without any expectation of return. As for legislating it, I’m not sure it’s necessary. We currently legislate these things into existence so maybe just removing all the systems that reinforce them and see if they survive in a “free market” environment. As someone towards the libertarian side of the spectrum, I’d rather see the mind-share shift away from the old guard to new models and this form of investment become a relic that no one misses.
1 reply
0 recast
0 reaction
