"hillrat" (hillrat)
07/21/2020 at 11:08 • Filed to: None
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"hillrat" (hillrat)
07/21/2020 at 11:08 • Filed to: None | 1
| 16 |
Weird nerds defending the idea that Bezos’s net worth increased by $13BILLION in a single day by being all “w3LL 4ctua11 y.... ”.
My guy, Bezos isn’t going to hook you up or know or care you’re out here talking like a booger eating moron in his defense.
For Sweden
> hillrat
07/21/2020 at 11:19 |
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That is how stocks work though. The idea that Jeff should sell off his shares when they reach a certain value, less the combined value of his shares becomes too high, is weird.
But not as weird as thinking an online retailer wouldn’t become more valuable when going outside is dangerous.
TheRealBicycleBuck
> hillrat
07/21/2020 at 11:30 |
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The problem with all this paper wealth is that it is mostly inaccessible. Whether that is due to contract restrictions on the sale of the stock or, as they rightly point out, a lack of market to which he could sell the stock in bulk, he really would have a hard time converting it to cash.
If I were Bezos and could sell stock to create cash, I would love being the hero that stepped in and saved a bunch of something . That might be throwing money at the homeless problem or maybe setting up a guaranteed income during the pandemic. Maybe I could fix all the bridges and they would have signs like “The Mississippi River Bridge Brought to You by BicycleBuck.” I don’t know. There are many, many problems to solve.
What I suspect is that if his benevolence was implemented through Amazon by raising wages or providing free health care for his own employees , the market would respond by devaluing the stock and erasing a big chunk of that paper wealth.
newnamesameme
> hillrat
07/21/2020 at 11:35 |
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lol, always kills me that folks like Bezos and Elon have defenders out there. It cracks me up.
Theres a great meme that goes around about this.. I mean Bezos is a Bond villain and Elon is a poor Tony Stark wannabe and dudes out there in their mom’s basement playing fortnight will lay down their lives to defend them.
Future next gen S2000 owner
> hillrat
07/21/2020 at 11:40 |
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I mean they are right but it is a pointless argument. Did he “ make” 13B? Only in the same way that I’ve made about a grand off a stock investment.
It’s all very interwebs. Technically correct but hugely irrelevant and pretty much a waste of everyone’s time.
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hillrat
> For Sweden
07/21/2020 at 11:45 |
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Sure the story itself is silly and click-baity, but the people rushing into the comments to defend Bezos’s honor are very silly geese.
I like cars: Jim Spanfeller is one ugly motherfucker
> hillrat
07/21/2020 at 11:46 |
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That’s not even what the “royal we” is though, that’s just a normal “we”
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For Sweden
> hillrat
07/21/2020 at 11:50 |
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The man sends me car parts more quickly than any specialty Volvo shops or the local parts store. That means something to me.
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For Sweden
> I like cars: Jim Spanfeller is one ugly motherfucker
07/21/2020 at 11:51 |
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Every we is a Royal we when you are a Royal
user314
> hillrat
07/21/2020 at 11:54 |
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See, I don’t see it as white knighting, but trying to correct a misunderstanding (or maybe misrepresentation) on Tom McKay’s part, one all too common today.
Ash78, voting early and often
> hillrat
07/21/2020 at 11:59 |
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Massive shareholders are like the Heisenberg Principle of stocks — if they actually tried to realize those gains, half of them (or more) would disappear from the mere act of selling. Looks like that’s what Ryan Rife was pointing out, too.
Paper gains are just that. We just don’t harp on this millions of times a day because most companies are private and we don’t know their owners’ valuations in a public setting.
I’ve been saying this for the 10+ years I’ve had Amazon stock: If you don’t like it, buy some. Now with fractional share ownership at a lot of brokerages, the barrier to entry is pretty low. As far as I’m concerned, Bezos is helping send my kids to college one day — just like Bill Gates did for me .
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hillrat
> For Sweden
07/21/2020 at 12:06 |
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Bezos does or under paid warehouse workers wearing Depends?
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For Sweden
> hillrat
07/21/2020 at 12:08 |
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I’m all for a good strike. I’m even more for those workers building their own co-op to compete with Amazon.
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hillrat
> For Sweden
07/21/2020 at 12:13 |
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That’s an idea everyone can get behind.
WiscoProud
> For Sweden
07/21/2020 at 14:27 |
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The issue is blockage discounts. For you and I, we can buy and sell to our heart’s content, as the blocks of stock aren’t big enough to move the market on their own. Bezo’s however does. If he only wanted to liquidate $1 bil of that gain, he functionally couldn’t without spreading it out over a significant amount of time. If he sold just $1 bil of stock at once, it would crash the value, albeit temporarily.
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For Sweden
> WiscoProud
07/21/2020 at 14:38 |
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Sure that would crash the stock price, but has he considered that YOLO?
Snooder87
> hillrat
07/21/2020 at 22:00 |
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N obody is “d efending” Bezos. We just don’t appreciate idiots who don’ t understand how the modern world works saying dumb shit on the internet.
And yes, acting like an increase in the stock value of a company is equivalent to literally collecting the same amount in cold hard cash is very, very dumb.