A Boring Dystopia

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Imagine if Amazon and all jobs out there were cooperatively owned? (infosec.pub)

submitted 1 week ago* (last edited 1 week ago) by ExploitedAmerican@lemmy.world to c/aboringdystopia@lemmy.world

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Now I need to do the math on space karen/ henery ford 2.0 aka Mr my autism makes me prone to outbursts of fascist apologia.

I did the math recently and if you took the assets of the wealthiest 1% and divided only half of it amongst the remaining 336.3 million Americans it would be a check of approximately 68,000 for every man woman and child and those bloated blood sucking leaches would still have an average remainder of just under 6 million dollars each.

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[–] Artisian@lemmy.world 4 points 1 week ago (1 children)

though they would drop in value very fast thereafter, no? My naive understanding is that a good share of people would sell them immediately, causing a price crash.

[–] Lumisal@lemmy.world 7 points 1 week ago (2 children)

Around 25% would have to sell over 50% of their stocks for it to maybe start having an effect.

It could also raise the value of the stock to free up so much stock from a single person to many, as selling it would mean stronger belief in the stock going up.

Stock market is part math, part religion really.

[–] DarylDutch@lemmy.world 3 points 1 week ago (1 children)

Also companies do "stock options with limitations on selling for a certain period" all the time.

[–] Artisian@lemmy.world 1 points 1 week ago* (last edited 1 week ago)

This is a good point. Ty

[–] Artisian@lemmy.world 1 points 1 week ago (1 children)

That level of sales sounds really realistic to me, most employees are not doing well and experiments in employee ownership generally see people selling that ownership fast without training (at least I'm told). I don't follow your bit about sales -> stock go up, my best guess is you're saying that this will crash the price artificially causing people to think now is a good time to buy?

But if you buy too much you'll be in a position like bezos, likely to get redistributed? I think we'd need a lot of different people with the liquidity?

[–] Lumisal@lemmy.world 2 points 1 week ago

Yeah, it could end up in the hands of a couple rich again.

But it could also send up like the GameStop situation.

It could also increase demand by wealthy investors to buy they stock which would also raise the price.

Whenever you think the stock market follows logic, just remember how much Tesla is worth despite not selling nearly enough for that valuation.