Dan LuuSep 9, 2024

The utter dominance of U.S. tech:

https://www.patreon.com/posts/111706949

Show threadRoche LimitSep 9, 2024
@danluu
Utter dominance in the financial markets. The over pricing of US tech companies doesn't reflect their actual value as employers or manufacturers or service providers. Their 'value' is their monopoly power to control markets to suppress competitors.
Show threadMartin Vermeer FCD
@rochelimit @danluu That, and especially in ITC, much of the stock price is speculative. These are not rational market players.
Sep 9, 2024 at 2:11pmWeb
Show threadSophia WisdomSep 9, 2024
@martinvermeer @rochelimit @danluu last year, Apple generated $102B in profit, Google $88B, Microsoft $88B. These are some of the largest profits of any corporate entity in history -- Standard Oil's profit as a % of GDP (in 1907) was lower.