r/technology • u/DontFearTheCreaper • 1d 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 1d 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/clueless_as_fuck 1d ago

It's pretty obvious at this point that this is the plan.

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u/LongjumpingDebt4154 1d ago

This is all by design. It’s a political tool. It’s a means to compel loyalty from every business that will need to petition Trump for relief. He’s using access to government funds to bully universities, law firms, state & local governments into loyalty pledges. Now, one by one, every industry or company will need to pledge loyalty to Trump in order to get sanctions relief. Public shows of support from executives for his economic policy & campaign contributions will be the first signs this is working according to trumps plan. As he adjusts & grants relief it’s a win/win; the economy improves & dissent disappears. Once Trump has lawyers, colleges & industry under his thumb, it becomes very hard for the opposition to have any space to maneuver.

This was from Senator Chris Murphy yesterday- I think it’s bang on, thought I’d summarize & share