Mark Zuckerberg Became World's Sixth Richest Person
Sat, Apr 30, 2016 5:22 AM
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Sat, Apr 30, 2016 9:29 AM

On the surface this sounds like the guy has a real big heart. He's giving 99% of his net worth to a charity. But then if you understand what this market really is and where his wealth really comes from that starts to change. First off he's donating 99% of 51.7 billion - which still leaves him with 517 million - I could get by on that - could you? And what is this 51.7 billion anyway? A stock that is not worth the paper it's written on. His plan now os to replace all the outstanding voting shares with non-voting shares so he still controls the company. Nice. So what is Facebook stock then? You do not vote. You do not own any part of the companies profits. You do not own any part of the companies assets. What do you own? A piece of paper with the Facebook logo on it. Oh wait - we did away with stock certificates. So it's a number in a computer system. 

I say we should stop forcing the 1% to play games with our money just to keep it all for themeslves. In a nation where we just print all the money we need why not just print money and hand it to the rich? Why force them to start pointless wars so they can hide that process behind classified defense contracts that are really no more than cash hand-outs? Why force them to start bogus corporations just to funnel your 401k money into their own back pockets? Why force them to destroy good companies just to pocket a jackpot from shorting the company's stock? Just print it and hand it to them. 

Sun, May 8, 2016 1:32 PM