Meta’s core online advertising business could take a $7 billion hit this year due to China tariffs impacting retailers in the country.
This is HORRIBLE! I’m TOTALLY ok with Working Class People like Myself getting ROYALLY FUCKED by Trump but I DRAW the LINE at BILLIONAIRES! THEY should NEVER be effected unless it’s by getting MORE of My Taxmoney!
BrikoX@lemmy.zip 18 hours ago
It’s kind of ironic that Facebook paid to avoid “regulators and fines” and got biggest “fine” in their history instead.
WhatAmLemmy@lemmy.world 17 hours ago
Don’t get fooled by the oligarch-owned media. The wealthiest individuals will benefit the most.
Fascism is a fusion of corporation and state (e.g. state-capitalism, like China). The next few years will likely see the largest transfer of wealth in history, and the S&P 500 will consolidate from an ownership of 200 separate conglomerates to 20-50 (example only. not real figures).
BrikoX@lemmy.zip 17 hours ago
You’re not wrong, but the loses are also real. While they will personally come out ahead in the end that’s what capitalism is designed to do, the company workforce will shirnk as a result.