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/braiam 20h ago

Yeah, I don't know why these articles come out. There's zero risks for people like that. They are immune to economic downturns. It will take years of economic pains for everyone for them to start to feel it.

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u/WhompWump 19h ago

There's people out there who think this is them getting "owned" not realizing that at the end of the day it's a fire sale on assets for people like them who have so much money they don't have to worry about anything at all ever.

These kinds of headlines act as a cathartic release for them and keep them distracted from the big picture. This was always the play, and every recession and economic crisis that's always the play.