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/Pantim 19h ago

Yeap, that. 

It would take a total idiot not to see this crash coming from the policies Trump was proposing during the election. These people are not idiots.

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u/StoicallyGay 18h ago

Too bad the MAGA crowd thinks everyone else are idiots for understanding the very very basic macro-economics that follow literal cause and effect logic. Because their argument is "short term losses for long term gains!" or "Trump has a plan and I trust him" AKA "we have no fucking logic or reasoning or reason to believe anything will work how we want, we just d-ride Trump forever."

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u/mloofburrow 4h ago

Well, I mean it is short term losses for long term gains... For people who can afford to ride out the short term losses and invest while things are low...

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u/Sharkbait_ooohaha 13h ago

Yeah no that’s where you’re wrong. The entire technocrat class was somehow clueless about Trump being serious about Tarrifs. They thought, based on Trumps first term that he could be controlled but they were very wrong. This isn’t anybody’s plan except Trumps and the oligarchs are actually showing they have very little actual power (Elon spent $20M and lost a race by 10 in Wisconsin).

We have to stop thinking of the Oligarchs are devious, intelligent planners. In a lot of ways they are extremely stupid.

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u/throwawayoftheday941 15h ago

So then if you didn't buy puts and invest on the short side you are an idiot right?

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u/f1shtac000s 14h ago

Capitalists look at much more than the dollars in the system to measure their power and wealth. It's not a silly insider trading strategy where powerful CEOs had insider information to buy puts.

The result of this process, when it comes to percentages of resources controlled, is that all of people with money in the market from the worker side: retail investors to 401k accounts, will lose a ton of money and not recoup it. They will forever be losing a piece of the pie.

From the Capitalists perspective, this process will end with the most powerful controlling even larger pieces of the global economy. It doesn't matter what the exact dollar amount of their net work is, it matters what percentage of global economic activity they control. They will end up richer in every meaningful sense of the word and you and I will end up poorer.

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u/Succulent_Rain 15h ago

He’s crashing the boomers 401ks so that the billionaires can pick it up for cheap.