|
I've become more and more convinced that private equity is largely a scam, in the sense that the practical effect is usually to loot the company of valuable assets, load it up with debt, and then reward the executives for their "efforts" with a gold plated ejector seat. The zombified husk of the company will then typically stagger on for awhile, maybe decide it can no longer meet obligations to its own employees, who it typically values even LESS than unsecured creditors. Unfortunately those employees don't have the option of going back in time and NOT going to work every day in that steel plant (or wherever)... they already met THEIR end of the bargain. The savvier vultures have moved on well before the carcass is picked entirely clean, and they're already circling over another company that appears wounded and falling behind the herd.
|
#
¿
Sep 3, 2018 03:27
|
|
|
|
| # ¿ May 15, 2024 13:29 |
|
|
Over the long term, some form of universal basic income that is scaled to automatically adjust along with increasing automation is pretty much the only answer. I'd like to think in a few generations time, most of humanity won't be forced to spend the majority of their waking hours doing poo poo they don't even care about, just for the sake of survival. The majority of work people do today even could be largely automated even with current technology, and it'll become infinitely easier as AI advances. It's only right that all of humanity share in the fruits of that massive productivity. "Labor costs" would essentially be so low in an automation driven utopia, and high value consumer goods readily available to all, that it could be a heaven on earth if we do it right. Or we just continue with the default option track we're on now, and everyone become slaves (or more likely killed off in endless conflicts) to the .0001% who control those automated processes.
|
|
#
¿
Sep 3, 2018 03:36
|
|