My favorite comment on the article is “The problem with capitalism is that you eventually run out of other people’s money."
How can i short this?
Selling hot air heated by wasting electricity in a data center.
The last company to do this iirc was Motorola in 1997. You can buy them on the secondary market now for about 80 cents.
80 cents for how much initial value?
They’re actually around 80 bucks, versus an initial value of a cool hundo. But they also pay out like a 5% coupon rate annually, so if you had bought them in '97 you’d be slightly beating inflation.
So those are associated with Motorola Solutions now, or did the debt move to Lenovo?
Yeah, the debt belongs to Motorola Solutions now. Although it would have been very funny if they somehow stuck Lenovo with it.
A company with $130 billion in cash reserves is floating 100 year bonds.
So much for billionaires reinvesting profits to trickle down in the economy. Now they hold onto profits, calling in suckers to bet for them and not promising results until all of them are dead.
We’ve all heard “it takes money to make money.” But rich people know it’s better to use other people’s money.
It’s better to use what you can use.
Well, you should consider that they plan to spend ALL of that cash on hand, PLUS the amount they have to borrow. And they plan to spend all of that in 2026. Their capex expenditures are planned to exceed their estimated operating cash flow.
Guess I won’t be upgrading my phone this year. And neither will you. Or anyone.
This is some true believer shit.
Google launched less than thirty years ago.
At the current rate of deterioration, it’s not exactly certain to what extent the planet will be able to sustain human life, much less whether a much loathed spyware company will still be around to pay the bills.
Is Google “much loathed”? It’s thanks to Google that the world’s largest browser engine and operating system are both open source. Yes we can list bad things they’ve done but they’ve also done a lot of good.
Holdovers from when “don’t be evil” was still a thing.
Both Android and Chromium are rapidly deteriorating in regards to FOSS. Yes, they are technically FOSS, but in the stranglehold of Google who keep carving away more and more freedoms.
Just consider Google Play Integrity and Manifest v3 (in regards to e.g. Adblocking) as two obvious examples.
If Google could, they’d instantly close the Android sources and remove the ability to adblock on Chromium.
It is remarkable that there are still people with whom their goodwill is not entirely spent. They really had us in the early years.
100 year bonds to finance purchase of GPUs that fully depreciate in 5 years?
Not to mention destroying the home GPU market at the same time.
We can sell new 100 year bonds to pay the interest on the old ones.
Someone appoint this person to the Federal Reserve
Can I sell 100y bonds too? It sounds like an amazing opportunity
Well, it’s not uncommon in some countries with perpetual loans for individuals, so sure!
It’s usually a matter of agreeing the right interest and offering the right security. You will get a worse deal than Google.
Sure! You can sell whatever you like! The trick is finding a buyer.
I would pay like $1 for $100 100 year bond from a random account on the fediverse just for the novelty, tbh.
Edit: actually I should probably be asking more like $800 on a one dollar investment now that I think about it. Compounding interest go brrr.
I’ll promise to give you anything in 100 years if you gave me your $100 now. It’s a fair offer right?
Yes, please go all in there, Google.
This is like that part in Don’t look up when the Jennifer Lawrence’s character tells her BF to wait 6 months before she meets his mother.
They are looking for the real suckers, that think things are going to continue on like this for 100 years.
I mean jesus, for a minute lets forget about climate change, and how increasing climate instability will fuel more political turbulence, how feedback loops are accelerating climate change beyond our predictions we are fed that were always undershoots to justify business as usual.
Just looking at politics and business now, the rich have taken from working people more than is sustainable. Not even directly taking, stated inflation is lower than real inflation, so we take a pay cut every year on top of everything else, and on top of consolidated industries that have conspired to increase their share of profits, and a government unwilling to enforce anti trust laws. A court system unwilling to check corporate interests, but willing to allow the government to go full nazi.
The economy is not sustainable as such. It’s getting worse for working people, that can’t afford professional services even with good jobs now. Let alone the low wage workers. Health care and drugs are beyond any semblance of reason. People have to give away their life savings for routine end of life medical problems that used to cost a reasonable amount of money.
There is no way the economy holds for 100 years. A 10 year bond might even be getting a little optimistic. The government is openly corrupt, working people don’t have the money to live a dignified life for the first time since the great depression in the US, and the rich are showing no sign of not taking exponentially more of economic output with their corrupt governments in tow.
Any fool that thinks dollar amounts are a good store of value as such to receive for the next 100 years is a sucker.
There are some very old contracts still not terminated around. From Netherlands before William of Orange, or from England before Cromwell. Those of nation-states (WWII lend-lease of the famous ones).
working people don’t have the money to live a dignified life for the first time since the great depression in the US,
The US is not even close to that. Your comment be proof of that, you don’t even understand how life was there and then, despite that being history of your country portrayed well enough in many movies and books.
That said, there are, of course, complications to be expected.
You are repeating information spoon fed to you by the ones that have changed the inflation rate to understate it, which has led us to become compound fucked to the 50th power.
A minimum wage job, 1 minimum wage job, paid for a family in 1950. Bought a house, a cheap car, doctors, dentists, optometrists, other professional services people can’t do themselves, even able to go out to eat for a burger.
After the changes, it’s become less and less true, by the 1980’s it was undeniably true that wages no longer paid for what they did. By now it is a joke, they tell us our buying power has never been higher, by the numbers that is true.
I know it feels warm and safe living up the backside of the billionaires, but there is no future going further up, come straight back and join us in the sunshine brother!
A minimum wage job, 1 minimum wage job, paid for a family in 1950. Bought a house, a cheap car, doctors, dentists, optometrists, other professional services people can’t do themselves, even able to go out to eat for a burger.
Yes, in 1950, damn right. Now do 1930.
by the 1980’s it was undeniably true that wages no longer paid for what they did
Still better than 1930.
but there is no future going further up, come straight back and join us in the sunshine brother!
I dunno, there might not be any sunshine stored for me, but it’s still not 1930.
What is your point? Mine is in the post war years we achieved the most prosperous working class the world has ever known, and the most progressive taxation which had no small part in that, and in the ensuing decades brought reason and justice even more to the economy, on a scale unprecedented before that, and the rest of the western world followed.
That in 1971 that all changed and they’ve taken that all away piece by piece in an organized campaign(s). So what are you even talking about?
Mostly for white people, and mostly because the US had built out an enormous industrial base to win WWII, and also was in the unique position of not having been destroyed by the war.
Which is the typical ad hominem to respond to the unanswerable charge that the rich have taken our middle class lifestyle and replaced it with poverty, reduced even the wealthy to just getting by status. Use emotional arguments, and slander, to obscure the issue.
The one here, that because injustice existed it doesn’t count that we all had a higher standard of living that the rich took away from us, doesn’t make any sense though does it?
Explain to me, how it negates recognizing the rich have taken from working people, because society wasn’t egalitarian when working people extracted the highest standard of living ever?
This, juxtaposed with the fact that the vast majority of tech investment in the US is comically shortsighted, is only proving that irony is dead.
