r/technology • u/DontFearTheCreaper • 20h ago

Social Media Tech CEOs who grinned behind Trump at inauguration lose billions in wake of tariffs

https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-bezos-musk-zuckerberg-b2727147.html
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u/a-base 20h ago

Much like the 2008 housing crisis in the US, these things tend to work out very well for billionaires - at a cost to the poor, lower- and middle- class.

  • Their losses are just theoretical, it's not like they have to cash out their stocks or sell assets and take any real loss.
  • Even with these 'losses' they are still billionaires and can access cash in numerous ways. They can quite comfortably ride out any period of instability.
  • More likely than riding it out, they'll use it to their advantage. With markets crashing they are perfectly positioned to swoop in, scoop up anything they like, and make out like bandits.

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u/anonymous_lighting 20h ago

i hear ya but to that same point do they really gain anything if their wealth increases by 10% after the fact? 

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u/Martel732 19h ago edited 17h ago

This are vain greedy fucks. Money doesn't matter to them for its specific buying power. It matters as a high score for life. While they all have more money than God they still stew in anger whenever someone else has more. And once they are on top they have to protect their status from others.

We need to stop idolizing the acclimation of wealth over all else. We have created a society that celebrates greed, and now we are surprised that our country is ruled by its greediest members.