Monday, 29 May 2017

Football - how Capitalism has been bastardised

No criticism about how the 15 made their fortunes - that is a story for another posting. But the developments in professional football have two lessons about how Capitalism has been taking the wrong turn - not because the system is inherently flawed but thanks to poor political and governance decisions.
Football is pretending to be a sport based on a Club system, not a business. So it should be up to club members to control the organization. Limiting individual votes would cut out rich oligarchs out of the scene in an instant.
Similarly, opening up television rights to proper competition and maybe limiting copyright would result in a drastic cut of revenues that could be splashed out on absurd compensation packages.
The 15 richest billionaire football club owners in England — and how they made their fortune

Monday, 22 May 2017

Where are Jobs going to come from?

In the case of the UK a simple example would be the unsatisfied demand for nurses - if there are too many people in retail maybe they can diverted into these kind of roles?
Driverless Cars Could Lead To Job Losses Of 300k A Year, But Fear Not The Robot Apocalypse: Goldman

Sunday, 21 May 2017

Apple thwarts Right to Repair - bring in Antitrust!

Time to break up Internet Oligopolies - in Apple's case force separation of hardware and content (App Store etc)
Apple Spends Big to Thwart Right to Repair in New York and Elsewhere

Friday, 19 May 2017

Media fawn on Billionaires

They should rather analyse why it has come to this sorry state! Giving the population at large the impression that everyone can be a billionaire is pretty unrealistic, if not dangerous! Their wealth did not fall from the sky nor did feudal lords find undiscovered lands - they took it from the rest of the population .
These 10 American colleges have minted almost 400 billionaires

Saturday, 6 May 2017

Carried Interest: pathetic defense of the indefensible

Carried Interest Loophole defended

Mark Zuckerberg's plan to create non-voting Facebook shares

The (Ultra) Rich build a moat around their wealth, make mockery of notion of Shareholder Democracy! Corporate Governance Crowd and Politicians complicit!
Mark Zuckerberg's plan to create non-voting Facebook shares is going to trial in September (FB)

Jeff Bezos just sold nearly $1 billion of Amazon stock (AMZN)

That is the problem with Shareholder Capitalism: The insiders/promoters get rich while the great unwashed public gets in when the (wealth) train has departed, acquires its chips are elevated levels of valuations. The trend towards ever-increasing inequality is also reinforced.
Jeff Bezos just sold nearly $1 billion of Amazon stock (AMZN)