Comment on Founder of 23andMe buys back company out of bankruptcy auction

• avidamoeba@lemmy.ca ⁨1⁩ ⁨day⁩ ago

  Yes, and the workers risk nothing, or something like that. 😂

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  • SMillerNL@lemmy.world ⁨1⁩ ⁨day⁩ ago

    I’m pretty sure the users risked a lot too for this one

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  • rigatti@lemmy.world ⁨1⁩ ⁨day⁩ ago

    I get the sentiment and I’m all for workers sharing in profits, but what do they really risk by working at a company? Sure, the company can fail and they might be stuck in a bad situation, but shareholders and owners probably have it worse in that scenario, right?

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    • atomicbocks@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

      Remind me, who is it that gets laid off first when the line starts going down…

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    • driving_crooner@lemmy.eco.br ⁨1⁩ ⁨day⁩ ago

      Workers give their entire lives.

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      • rigatti@lemmy.world ⁨1⁩ ⁨day⁩ ago

        They don’t lose their life if a company goes under though? I don’t mean to diminish the contribution of workers. I think they need a much higher share of what companies take in, and they need more voices at their companies.

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    • pebbles@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

      Depends, are considering the fact that 90% of stocks are owned by the top 10% of Americans? Also are you considering that being in the top 10% means you likely have rich friends and family that could bail you out? I think black rock is going to be fine.

      Most businesses aren’t like my friends parents little Chinese restraunt.

      To me using the, “think of the shareholders” line is silly for a reason. The biggest privileges is the privilege to make mistakes without becoming impoverished. Workers have it much harder in that respect.

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      • rigatti@lemmy.world ⁨1⁩ ⁨day⁩ ago

        You make a good point that the shareholder/business owner class is more likely to have better safety nets. So from that standpoint, if the absolute value of their loss is greater, it could have a much less significant impact on their lives.

        I think you may be underestimating the amount of small businesses though, at least in the US.

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    • dejected_warp_core@lemmy.world ⁨15⁩ ⁨hours⁩ ago

      Workers risk a few things, depending on the job:

      • Health
      • Time
      • Opportunity (could be working someplace else that’s better)

      These have a lot of dimension to them, including how one quantifies what “pay” actually is/for, what legal restrictions there are around taking the job (e.g. non-compete, non-arbitration), work/life balance, and so on.

      Risk comes into play where the employee takes a bet that the job won’t destroy their health, work only as much as is absolutely necessary, and have taken a position at the optimal balance of responsibility, personal growth, retirement prospects, and income. It’s a risk since there are substantial barriers to changing to a new job, so you can wind up “stuck” in a bad position, but can’t know until after you start.

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• Knock_Knock_Lemmy_In@lemmy.world ⁨14⁩ ⁨hours⁩ ago

  Bondholders are having a haircut.

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