April 15, 2020

Crony Capitalism

Daring Fireball: ‘Capitalists or Cronyists?’

”The thing to remember is that if allowed to fail, the cruise ships won’t sink to the bottom of the ocean. The jobs won’t disappear. The companies will go into bankruptcy, existing shareholder equity will get wiped out, and new ownership will take over. A bailout won’t rescue the industry or the jobs — it will rescue the shareholders.

John Gruber

💬 observations

Previous post
Nobody Should Adopt Social Distancing. Now ‘Physical Distancing’, That’s Different. Definitely Do That. I’ve been thinking a lot about ‘Social
Next post
Cooperatives A few links that my friend Andy sent over - just capturing and dropping into here for now. Cleveland Model: How Evergreen Cooperatives Are Building