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@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.
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David (d/acc)
@promptrotator.eth
reminds me of the saylor quote that volatility is an engine
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@thumbsup.eth
He’s very much right. Look at how he uses it to game the system: Borrow against stocks Buy bitcoin People see the balance sheet with bitcoin value going up and buy the stocks pumping the price. Repeat. It doesn’t work well on the way down though…
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