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/Mysterious-Job-469 19h ago

Yep. People said the same thing about the Pandemic.

Looking back, the Pandemic was the largest wealth transfer in the entire history of mankind.

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u/Independent-Cow-4070 19h ago

And the 08 recession, and the Great Depression

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u/Fit-Engineer8778 18h ago

Yeah but the pandemic was the largest. They can’t all three be the largest.

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u/technobicheiro 17h ago

They can be the largest of their time, nobody called World War 1 World War 1 until the second one happened.

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u/rfandomization 16h ago

pedantry dictates that I mention "First World War" was in fact a thing before the second one, but rather than implying a second was to come, it was used to indicate the First war that the whole world had fought in simultaneously

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u/technobicheiro 16h ago

fair point: largest wealth transfer in the entire history of mankind, so far...

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u/Dustinj1991 16h ago

Wait stop that makes sense but hurts my brain for some reason.

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u/[deleted] 12h ago

[deleted]

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u/Fit-Engineer8778 2h ago

Yeah after the Second World War happened. It was called the Great War up until then.

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u/Brigadier_Beavers 16h ago

not saying you're wrong, but is that comparison by raw number dollar value or does it take inflation with buying power into account?

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u/Fit-Engineer8778 14h ago

Raw dog, dawg

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u/X2F0111 16h ago

I mean they were the largest at the time. So yes, for a moment, they were each the largest.

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u/Hot-Mathematician691 19h ago

People have to sell the little stock they have in order to eat and pay their mortgage/bills. Hope the jobless doesn’t get out of control but I’m seeing factories shutting down part time already, due to the tariffs.

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u/linkfan66 19h ago

If you own stocks and don't have enough in your account for dinner then you've got terrible money management skills lol.

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u/font9a 14h ago

You don't understand how people choose to live on a tight budget and put the rest into savings/money market/retirement accounts? At some point you're going to burn through all your liquidity.

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u/SteelTerps 19h ago

Who the fuck doesn't have money to stay alive but still has stocks

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u/UUtch 16h ago

...yeah, to the lowest earners. Income inequality went down during the Biden admin after 40 years of rising inequality https://www.nber.org/system/files/working_papers/w31010/w31010.pdf