Fuck Zuck
Fuck META
Fuck Billionaires
Fuck Slop
I’d love it if Meta shareholders spun up a class-action about this.
Zuck, probably: " I don’t know why, they trust me. Dumbfucks"
I wish I could care about the poor shareholders with their 401ks, but get in line. the amount of damage this company has done to countless of people has created a long line up before anyone who should complain about their stock options.
In the US, 401Ks are pretty much your only retirement option now, no? Private pensions are almost nonexistent and there’s no national pension plan that I’ve heard of… state plans?
Bold of you to assume we can afford retirement, ever?
Not retiring, 401ks, and some union and public sector pensions. Listed from most common to least common.
There is also social security and Medicare both of which are supplemental pension and health insurance which contributes some for working class people
That’s Epstein style accounting right?
potentially forcing him to sell voting shares to pay it
…as though it’s some huge fucking life-changing burden on him
He has bankers he can borrow from and could quite possible purchase more voting shares to maintain his majority. Fuck Zuck.
They are doing a 2 for 1 split where everyone gets half voting shares half non voting shares. No one is being fleeced. Everyone still has the same share value and voting power from the split. There is no dilution.
This is the new precedent for fleecing the public markets for capital since the Fed Put (Federal Reserve QE bailout) is off the table and the bond/debt market isn’t buying the AI/ Hyperscale bullshit narrative any longer. Wage growth is outpaced by inflation and now any wage earner and or retiree are being robbed to fit the bill. Inflation CPI/Core are already being nerfed and underreported to keep SS benefit payments artificially low.
Further, this is essentially the same play that Bessent and Trump have in the works to “refi” the federal deficit via hyperinflation. Every US taxpayer is getting fucked and will be — I guarantee it. This is the new “too big to fail” bailout absent Federal Reserve intervention. The US dollar hegemony is being decoupled from oil (petrodollar) and replaced with the US taxpayer as a credit/debt derivative product. USD/Riyad parity will for the first time spread an none of the Wall St black boxes or models were trained with this scenario. Buckle up.
A lot of people can.
Lol so now we care about Meta shareholders?
I don’t really see how on the one hand you can be yelling Fuck Meta, then on the other be complaining about how Zuck is taking money from the owners of Meta and giving it to California in the form of tax money.
META Shareholders: Pension funds and passive holders in their retirement accounts via index funds and mutual funds.
I’m sorry but this is just “too big to fail” horseshit that meta spews to stop you from divesting.
Money going from Meta shareholders to tax payers is a good thing. Full stop. End of story.
That drives down metas stock price and makes them less valuable. Those index funds and institutional investors will just reinvest somewhere else.
And that’s that greatest swindle played against the working class… Allocating their pension towards holding stocks from toxic companies like meta.
‘Meta shareholders’ include most people with a retirement account. Even if you don’t have much in it and they’ve only defrauded you of $5, multiply that by 150 million people who have a 401k.
They haven’t defrauded you of shit.
First of all, diluting your stocks is not fraud. At end of story there.
Second of all, those institutional investors will just put that money into a different more valuable company, driving down metas stock price.
This is literally horseshit logic that would lead you to think that any company, once they hit a certain size cannot be let to fail or suffer, just because they’re now part of an index fund. Thats absolute horseshit.
First of all, diluting your stocks is not fraud
The entire “AI” industry is based on fraud and product misrepresentation, and when the bubble pops we’ll see what the courts say when people start suing.
No it’s not. I’m sorry, but everyone on Reddi / Lemmy who is all like ‘ai is horseshit and doesn’t do anything’, are fucking, sotrich-like, head in the sand, idiots.
You can be anti-AI for the economic reason, or you can be anit-AI because you think it doesn’t work, and the latter camp are blind morons.
I’m anti-LLMs and generative AI both because it’s useless garbage and because of the disgusting social and environmental cost. Anyone who thinks it works incredibly is either using for shit that barely required a sapient person to begin with (writing office emails and making flyers), or they’re using it as the most expensive autocorrect in the world (coders). Shockingly, all of which can be done without destroying the planet and with fewer errors if you just pay actual people to do it. All of which is irrelevant to the fact that it simply does not to the things these companies are claiming it does. It is not going to replace your human work force, it is not going to recursively improve itself any more than breeding faster horses made trains.
Oh, sorry, I forgot it also works incredibly for spamming and hacking insecure systems. Vital needs worth destroying the planet over.
If you don’t like how a company behaves (like giving someone a pile of cash to pay their tax bill) don’t invest in them. If you think stock go up anyway, and don’t mind, do.
‘Make it your unpaid job to track down the behavior of the dozens to hundreds of companies in your 401k’ is an unrealistic bar to expect the average person to be able to jump. You can start and share your findings.
Also kind of a weird response to criminal behavior from a corporation.
It’s not criminal- it is immoral. But Meta - do you really expect different. And yes, I do care about the things I’m invested in - cos it’s my money.
So share a list and your findings of the companies in your 401k, to make it easier for others.
