Let the taxpayers prop up failing companies. Corpo welfare is the good kind of welfare even though most of the money gets sucked up by the Executives and share buy backs.
Comment on Google CEO: If an AI bubble pops, no one is getting out clean
nuko147@lemmy.world 4 weeks ago
If an AI bubble pops, no one is getting out clean.
He means the taxpayers.
ShaggySnacks@lemmy.myserv.one 4 weeks ago
TankovayaDiviziya@lemmy.world 4 weeks ago
At least China is right about not bailing out their companies when their own property bubble collapsed.
chuckleslord@lemmy.world 4 weeks ago
The bar can’t be “not as corrupt as America”. That’s not a bar, that’s the ground. They can and should do better.
TankovayaDiviziya@lemmy.world 4 weeks ago
Oh I’m not trying to defend or exalt China. I’m saying that we should be like China when it comes to dealing with billionaires. Or even better, be like Vietnam, when the court ordered a billionaire who defrauded thousands to pay in time or be executed.
rumba@lemmy.zip 4 weeks ago
The amount of bailing out should be inversely proportionate to the amount of people fired during record profits.
e461h@sh.itjust.works 4 weeks ago
Privatize the profits, socialize the losses
conorab@lemmy.conorab.com 4 weeks ago
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.