Sean T. Collins: One thing I occasionally like to point out is that capitalism is no less prone to irrational mania among its practitioners than any other cult. You saw it with the crazes for crypto and NFTs, you're *really* seeing it with the frenzy to force an AI product that does not work on everyone, & now this.

One thing I occasionally like to point out is that capitalism is no less prone to irrational mania among its practitioners than any other cult. You saw it with the crazes for crypto and NFTs, you're *really* seeing it with the frenzy to force an AI product that does not work on everyone, & now this.

We don't have the final results yet but it looks like we can dispense with the idea that Tesla can ever be anything other than Mad King Elon's personal domain of fraud and abuse. He is the company, and the company is him. www.ibtimes.co.uk/tesla-shareh...

Tesla Shareholders Approve Musk's $56 Billion Pay Package in Early Votingwww.ibtimes.co.uk Early voting results suggest Tesla shareholders approve Musk's controversial $56 billion pay package.

one thing i appreciate about the post-Enron, post-Theranos era is that it’s much easier to get people to understand that, while stock value does have SOME relation to futurist predictions and confidence in a company, the performance of a stock and the performance of the company are in no way linked

Every single big investment innovation/trend of the last 20 years has been a huge scam similar to a ponzi scheme and now most of the worlds richest most powerful people made their wealth as actual criminal conmen. This is a bad situation.

The "rationality" of capitalism is in the crash. Not the NFT craze but the 98% loss years later. Which is why conservatives used to almost fetishize crashes as the way to "clear the deadwood" in the economy. Of course, these days our conservatives have decided capitalism is too "woke" for them

Tesla's remaining value is nearly all from the cult of personality around Musk. And his personal value to the big shareholders is willingness to use Twitter to put a thumb on the election. Not giving into his demands jeopardize both. Musk has become a 2008 Bank: to big to fail.

Yep. I feel like this was better understood in the 19th century when capitalist crises were routinely described as "panics" - completely takes away the veneer of rational decision making.

Highest paying part time job ever

People who think they're immune from bias and cannot make mistakes are those who make the biggest mistakes.

Con artists' favorite targets

That famous line from _de Afgestudeerde_: "Just one word. Tulips."

I can only assume these Tesla shareholders that are voting on this shit have zero clue about the massive parking lots full of unsold cars that Me-Lon is paying for all over the place, right? Or the number of women he's abusing on his payroll, for that matter?

👍👏

"Rational" Choice, right?

FOMO the next quick buck

it's archaic language makes it a tad inaccessible these days, but I really wish more ppl would read Extraordinary Popular Delusions and the Madness of Crowds, and it's an EXCELLENT run down of precisely these sorts of manias from the very beginning of capitalism www.gutenberg.org/files/24518/...

The Project Gutenberg eBook of Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, by Charles Mackaywww.gutenberg.org

meant "as" not "and" there after the title -___- Curse You Traitorous Fingers *shakes fist*

Q: How much does an aircraft carrier cost? A: It's important not to forget that a carrier is just one part of a carrier strike group. A carrier might cost $11 billion, but the planes that equip it could cost another $5 billion. At least three destroyers, at about $2 billion apiece . . .

Wealthy people are really way to fool. Just tell them they'll make money off something, and they'll believe you right into the poor house.

Mmm… so Tesla shareholders have just paid for Twitter?

Pretty much.

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