Capitalism runs on the premise that those who are best at something should get all the money. The reason blackstone, Apollo, kleiner perkins, general catalyst, etc are at the top is that they have created a ton of wealth for their investors. They have done this by taking businesses and making them more valuable. Like trading, this is done through a process of continuous improvement on a formula they have developed that works. I will send the title of a good read via PM
I will add two more comments. The problem isn’t that the rich are rich in my opinion. Is the financialization of our economy. Everything is monetizable. Anasthesiologists can sell their practices for 10s of millions. Regarding your concept of egalitarian access, watch the south park episode about Starbucks coffee (like 20 years ago)
Its funny how lawfare always results in even shittier products for the consumer. SPAC breaking new records.
This seems to be a general thread on wall street and stocks. So, I will comment on Walmart. Walmart was middle america, good prices, many locations, low grocery bills, many jobs in local communities. I took notice here because of the many viral TikTok videos of younger "english speaking" americans showing directly how horrible their products, food, services So Today Walmart is: 1) Jobs are mostly given to illegals 2) the americans working there seem to hate their job 3) prices are NOT good 4) grocery bill is NOT lower 5) Quality is extremely poor (what you would expect to find in Honduras or Guatemala) 6) customers are no longer middle america but mostly illegals with food stamps, which is why prices could be propped up higher and higher Now, this all makes for good earnings..better and better earnings. However, I did a case study in college (large total class project) on why Kmart failed. And it checks all of the above boxes. Granted, back during Kmart, there was no masses of illegals getting full limit max food stamps. But, i am not sure there will be big masses of illegals in USA any longer either. Kmart was forced, under Clinton, to follow a strict diversity DE&I hiring. Clinton was trying to take an entire "under- belly" of americans off of welfare and he made some kind of deal with Kmart for huge tax offsets and federal funding incentives. Kmart was able to reduce their wage level spending with lower per hour wages..but the people that worked there had horrible work ethics and attitude. Most would walk in the other direction when you needed help. I can clearly see all this in Walmart today. Probably much worse than back during Kmart. Walmart doesnt really have a exact competitor, like Kmart had with direct competition to walmart. Target is probably too different to compare directly. But, I am writing this because I see Walmart as the lowest hanging fruit in this sector as far as industry disruption . Any type of real head to head competition with an industry disruption angle would probably put walmart outta business in just a few short years. Its a horrible shit hole to shop in and their products (chinese junk), food and services are toxic and rancid..so, even delivery doesnt help in regard to any real industry disruption. Long story short..will walmart keep missing on earnings...Yes!
what lawfare is there here? Is chamath being attacked for calling a previously primary residence a primary mortgage?
I think this is what makes the rounds, but its always crocked capitalism. It only works when governments get involved to either stifle out competition, or provide a safety blanket, or perhaps to be the best possible customer with unlimited buying power. No corporation would have all the business and all the money if the rules were truly fair. Its kind of like the Olympics. It sounds great until you find out all the Russians are doping. Or you let men play against women just because they say they are women, and all of a sudden, they win every race. This is what capitalism is today, the appearance of fair race, but dirty stuff happening right in the open. I truly hope that when the currency is replaced, we can get back to true free market capitalism.