I've been thinking about this thread (link goes to final post) and its idea of a "Capital Strike" a lot for the last couple weeks.
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@mcc billionaires don't share, so i assume there must be some other reason for it
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@mcc oh no they absolutely do but it isn't the one that marxists traditionally ascribe to capital
@mcc the blue owl deal is a really good example. blue owl makes a bunch of shaky investments but doesn't mark losses because they're illiquid, tries to dump them on the public market, public market doesn't want to buy, so they dump them on public sector pension funds instead. the pension fund managers and the managers at places like blue owl have close relationships, and because the funds are illiquid they never have to admit they lost money (unless it gets to the point that the fund is actually unable to pay out to retirees). pension fund managers get their bonuses, private credit fund managers get to stay in business, no on else is the wiser (except for weirdos who read bloomberg)
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@mcc the blue owl deal is a really good example. blue owl makes a bunch of shaky investments but doesn't mark losses because they're illiquid, tries to dump them on the public market, public market doesn't want to buy, so they dump them on public sector pension funds instead. the pension fund managers and the managers at places like blue owl have close relationships, and because the funds are illiquid they never have to admit they lost money (unless it gets to the point that the fund is actually unable to pay out to retirees). pension fund managers get their bonuses, private credit fund managers get to stay in business, no on else is the wiser (except for weirdos who read bloomberg)
@mcc and even if the pension fund blows up the other major pension funds are doing the same thing so they can just blame "the macro environment" and demographics
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@jenniferplusplus @mcc what is the escalation from capital strike?
coup?
Rebellion?
Maybe hostage standoff?A strike is an extreme bargaining tactic, but it's still taken within the boundaries of a system. It's part of a demand for concessions. But they're not bargaining anymore. They're not satisfied with concessions. They're violently coercing our subservience.
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coup?
Rebellion?
Maybe hostage standoff?A strike is an extreme bargaining tactic, but it's still taken within the boundaries of a system. It's part of a demand for concessions. But they're not bargaining anymore. They're not satisfied with concessions. They're violently coercing our subservience.
@jenniferplusplus @ahoyboyhoy So as a note, and without specifically agreeing or disagreeing with anything in your thread:
A concept i've been working with for a while is that some of these startups— Uber, Spotify— are not "businesses". They're more like the economic version of *terraforming plants*. They're not intended to make money, or at least, not to make back the money they spent in being created. They are wealth being consumed in order to provoke a change in society which someone wanted.
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@jenniferplusplus @ahoyboyhoy So as a note, and without specifically agreeing or disagreeing with anything in your thread:
A concept i've been working with for a while is that some of these startups— Uber, Spotify— are not "businesses". They're more like the economic version of *terraforming plants*. They're not intended to make money, or at least, not to make back the money they spent in being created. They are wealth being consumed in order to provoke a change in society which someone wanted.
@jenniferplusplus @ahoyboyhoy I believe if you go back and look at interviews where the Uber founders describe their thought process in creating the company, this example is unusually blatant.
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@jenniferplusplus @ahoyboyhoy I believe if you go back and look at interviews where the Uber founders describe their thought process in creating the company, this example is unusually blatant.
@mcc @ahoyboyhoy ah yes, colonizing. How did that word escape me?
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@mcc and even if the pension fund blows up the other major pension funds are doing the same thing so they can just blame "the macro environment" and demographics
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@rotopenguin @mcc that's the great thing about being a public sector pension fund, you're not the one that needs bailing out
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@jenniferplusplus @ahoyboyhoy So as a note, and without specifically agreeing or disagreeing with anything in your thread:
A concept i've been working with for a while is that some of these startups— Uber, Spotify— are not "businesses". They're more like the economic version of *terraforming plants*. They're not intended to make money, or at least, not to make back the money they spent in being created. They are wealth being consumed in order to provoke a change in society which someone wanted.
@mcc @jenniferplusplus @ahoyboyhoy Had a bit of an "you think that's air you're breathing?" reading this. That's such a good lens to view... *all this* via.
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@JohnSullivan @emaytch well, i'm convinced. where do i invest
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@mcc @jenniferplusplus @ahoyboyhoy Had a bit of an "you think that's air you're breathing?" reading this. That's such a good lens to view... *all this* via.
@tehstu @mcc @ahoyboyhoy
that's the only reason I bother shouting into the void. Sometimes the void hears it and goes "whoa" -
coup?
Rebellion?
Maybe hostage standoff?A strike is an extreme bargaining tactic, but it's still taken within the boundaries of a system. It's part of a demand for concessions. But they're not bargaining anymore. They're not satisfied with concessions. They're violently coercing our subservience.
@jenniferplusplus @ahoyboyhoy @mcc (hostile) takeover? Conquest, subjugation? Seizure? Capture?
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@jenniferplusplus @ahoyboyhoy @mcc (hostile) takeover? Conquest, subjugation? Seizure? Capture?
@jenniferplusplus
And, between the various threads I saw today, out of https://sightlessscribbles.com/posts/the-colonization-of-confidence/ jumps at me "colonisation".
@ahoyboyhoy @mcc -
@tehstu @mcc @ahoyboyhoy
that's the only reason I bother shouting into the void. Sometimes the void hears it and goes "whoa"@jenniferplusplus @tehstu @mcc @ahoyboyhoy
Shortly after reading this, I read this:
Sven A. Schmidt (@finestructure@mastodon.social)
Just read this, you can thank me later. https://sightlessscribbles.com/the-colonization-of-confidence/
Mastodon (mastodon.social)
