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/Pantim 1d 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/Sharkbait_ooohaha 1d 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.