Big Government, Big Business Both Evil: Nassim Taleb

[mawilson 2,133]

How can we hold Big Business accountable

There are labor laws to protect the worker, consumer protection laws to protect the consumer,

environmental laws to protect the environment. Beyond that, let them do whatever the ####

they want. If they treat their customers poorly, they will go elsewhere.

[elmcitymaven 9,712]

people make a choice to invest in a particular company or not. It's up to those investors to jump on board or jump off the train if they don't like a way a company is run.

Christ on a bike, that line of thinking is antediluvian. The whole "vote with your feet" argument is one that companies WANT you to have. Investors own the company; the management are there to run the show. As owners, investors need to consider the long term health of the company. Perhaps you and I are coming at this from different angles -- I don't have anything to do with individual investors, but work the institutional angle. These investors are looking at very long term horizons on investments, and have a fiduciary duty to extract maximum value from their investments on behalf of their clients. Sometimes, this does mean doing the Wall Street Walk, but increasingly this means working constructively with management and the board to create sustainable value.

There are labor laws to protect the worker, consumer protection laws to protect the consumer,

environmental laws to protect the environment. Beyond that, let them do whatever the ####

they want. If they treat their customers poorly, they will go elsewhere.

I'm not talking about stakeholders and consumers here, but shareholders.

[Obama 2012 1,714]

Christ on a bike, that line of thinking is antediluvian. The whole "vote with your feet" argument is one that companies WANT you to have. Investors own the company; the management are there to run the show. As owners, investors need to consider the long term health of the company. Perhaps you and I are coming at this from different angles -- I don't have anything to do with individual investors, but work the institutional angle. These investors are looking at very long term horizons on investments, and have a fiduciary duty to extract maximum value from their investments on behalf of their clients. Sometimes, this does mean doing the Wall Street Walk, but increasingly this means working constructively with management and the board to create sustainable value.

I get what you're saying, but at the same time you still have that choice. Why would you invest in a company if you didn't think the future outlooks is decent? Why would you not look at the company structure, their history, the management team, etc. - After all, it is their company even if it was made "public" (which is nice for some busineses I suppose, but I sure as hell would never do it).

[elmcitymaven 9,712]

I get what you're saying, but at the same time you still have that choice. Why would you invest in a company if you didn't think the future outlooks is decent? Why would you not look at the company structure, their history, the management team, etc. - After all, it is their company even if it was made "public" (which is nice for some busineses I suppose, but I sure as hell would never do it).

Of course large investors are looking at all of these matters, and there is an element of risk in any investment. Sometimes an excellent company can have a very specific issue that investors perceive as holding back the company. Continuing to invest in the company might provide better returns over the longer term, and divesting might not make sense when constructive dialogue between investor and the company could ameliorate the situation.

And I would never take a company public either. I'd have to deal with people like me.

[Usui Takumi 1,562]

I think we are at the point where we should write the government into an open source piece of software (maybe un-networked?). Humans are too easily swayed and too inefficient. You can't lobby code.

[Obama 2012 1,714]

I think we are at the point where we should write the government into an open source piece of software (maybe un-networked?). Humans are too easily swayed and too inefficient. You can't lobby code.

Skynet!

[Usui Takumi 1,562]

Skynet!

Just don't give it the missile codes and we'll be okay...

[Obama 2012 1,714]

Just don't give it the missile codes and we'll be okay...

Then there's the computer system in "Demolition Man" that issues citations for cursing...

[mawilson 2,133]

I think we are at the point where we should write the government into an open source piece of software (maybe un-networked?). Humans are too easily swayed and too inefficient. You can't lobby code.

Just don't GPL it unless you want a commie software government. BSD license, please.