this post was submitted on 27 Sep 2024
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A Boring Dystopia
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He doesnt make that in actual money tho. Rich people's value are vibes based egregors summoned through the stock market. So, in a similar vein, if the stock market crashes and never recovers, he loses most of his money. This is why I propose ripping down Wallstreet to starve the machine.
You don't want the stock market destroyed. That is how retirements are funded as well.
You want to restrict ownership of an individual stock. Limit them to 5% or so. Also make every stock have 1 vote, no exceptions.
Well, those suggestions would destroy the stock market. Nobody would ever register their company on the stock market if it meant giving up 95% of the control.
Really which company do you have more than 1 vote per share or have more than 5%? Very few people are given either.
All non-stock companies which is the majority of all companies. That's the problem. When a company applies for a stock market registration, it means that they're selling off control and profit sharing of the company in order to gain investments to expand.
All companies start with a single or two owners. The transition from owning everything to including others won't happen if it means giving up to the majority of control, whether that's 50% or 5/95%. That's why many companies get stuck on 51%. It only ever comes over 50% when someone dies or makes a mature decision of letting others control "their" company.