this post was submitted on 26 Oct 2024
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A Boring Dystopia

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submitted 10 months ago* (last edited 10 months ago) by the_shitshow_never_ends@lemmy.world to c/aboringdystopia@lemmy.world
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[–] ExtremeDullard@lemmy.sdf.org 101 points 10 months ago (4 children)

Intel is part of a small number of companies that are strategically important for the US to keep posturing in front of China and the EU, like Boeing or SpaceX.

Those companies know the US government will never let them fail: even if they're driven to bankruptcy by the most stupid management, they'll get taxpayer's money - i.e. OUR money - in the form of subsidies to bail them out.

Therefore, to answer your question, they need $8bn in subsidy because they deliberatively placed themselves in a position to request money from us that they know will be granted.

Hell, if I knew however much money I spent, someone would always foot the bill if I ran out, I too would spend like no tomorrow in order to get more money for free. It's plain logic.

[–] CosmicTurtle0@lemmy.dbzer0.com 37 points 10 months ago (1 children)

If they are too big to fail, then they need to be nationalized.

All of these companies have two things in common: they socialize risks and liabilities and privatize profits.

[–] SapphironZA@sh.itjust.works 9 points 10 months ago

Or be broken up.

[–] masterofn001@lemmy.ca 16 points 10 months ago (1 children)

Boeing, space x, and Intel.

All terrific companies with excellent management and absolutely nothing bad about them whatsoever.

[–] skittle07crusher@sh.itjust.works 5 points 10 months ago

They once did a good thing that one time - and were American, at that moment at least. -Ish.

[–] humanspiral@lemmy.ca 13 points 10 months ago

Also they may have spent $158B on stock buybacks, but company is worth $96B. They lost a lot of money on those buybacks. Down about 70% over last 3 years.

[–] loutr@sh.itjust.works 8 points 10 months ago

Hell, if I knew however much money I spent, someone would always foot the bill if I ran out, I too would spend like no tomorrow in order to get more money for free. It's plain logic.

  • Why did $manager hire two more people? We don't need them, half the team has no idea what they're doing here and are just fucking around all day already.

  • Yeah but he still has some budget left, and if he doesn't spend it all next year he'll get less, and we can't have that.

[–] Captain_Baka@feddit.org 33 points 10 months ago (1 children)

Because lobbyism (a.k.a. corruption).

[–] makingStuffForFun@lemmy.ml 25 points 10 months ago (1 children)

Lobbying is bribery. Pure. Simple.

[–] RestrictedAccount@lemmy.world 13 points 10 months ago (1 children)

You don’t understand.

Giving money to government officials is just a tip for appreciation and is completely legal

I wish I needed to add a /s, but it is objectively true:

https://www.omm.com/insights/alerts-publications/supreme-court-limits-reach-of-federal-bribery-law-applied-to-state-and-local-officials/

[–] Captain_Baka@feddit.org 5 points 10 months ago

Giving money to government officials is just a tip for appreciation and is completely legal

Yes it is, but it shouldn't be.

[–] FlashMobOfOne@lemmy.world 32 points 10 months ago (2 children)

Every two years the US votes for capitalists, then capitalist things happen, and people clutch their pearls as if this isn't precisely what they voted for.

[–] 01011@monero.town 10 points 10 months ago (2 children)

It's not really a choice when it's the only option.

[–] granolabar@kbin.melroy.org 4 points 10 months ago

Why do you hate democracy?

[–] Szyler@lemmy.world 2 points 10 months ago

Time to introduce the guillotine then

[–] surewhynotlem@lemmy.world 8 points 10 months ago

No, that's ridiculous. Americans have a first past the post, winner take all, voting system. And we have an electoral college.

This means that Americans never vote FOR president. Then only ever vote AGAINST who they hate most of the two real candidates.

[–] newthrowaway20@lemmy.world 20 points 10 months ago (1 children)

They've been burning through multiple billions quarter over quarter during all those buybacks too. Sounds like poor leadership to me.

[–] leisesprecher@feddit.org 9 points 10 months ago (1 children)

Not for the shareholders. And that's exactly the problem.

[–] Bluefalcon@discuss.tchncs.de 12 points 10 months ago

Half for buybacks and half for executives, lobbyist, and other corrupt programs.

[–] granolabar@kbin.melroy.org 7 points 10 months ago

Parasites got it good. We pay them on both ends and they still price gouge us

[–] Karyoplasma@discuss.tchncs.de 7 points 10 months ago

Because otherwise, all this money would be wasted on the dissolute like homeless people or children.

[–] n3m37h@sh.itjust.works 4 points 10 months ago (1 children)

That is 4.34 billion for each year

[–] granolabar@kbin.melroy.org 1 points 10 months ago

100 billion in the last 15 yeaes tho

[–] latenightnoir@lemmy.world 2 points 10 months ago

Because MMMONEYYY!