First a view from a man who knows when a price is too high.
• Julia La Roche
• Mar. 19, 2015, 10:38 PM
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Twitter.com/TEDNews
Paul Tudor Jones II.
Legendary hedge fund manager Paul Tudor Jones II gave a dire warning about the growing gap between the rich and the poor in the US during a sold out TED Talk in Canada this week.
"Now here's a macro forecast that's easy to make and that's that the gap between the wealthiest and the poorest it will get closed. History always does it. It typically happens in one of three ways– either through revolution, higher taxes or wars. None of those are on my bucket list," PTJ said, according to a video of the event viewed by Business Insider.
During his talk, Tudor Jones, who has an estimated networth of $4.6 billion, praised capitalism.
"It's a system I love because of the successes and opportunities it has afforded me and millions of others."
Over the last several decades, however, there's been a shift.
Tudor Jones continued: "I've seen a lot of crazy things in markets ... And unfortunately, I'm sad to report that right now we might be on the grips of certainly one of the most disastrous certainly in my career."
According to Tudor Jones, the problem has to do with how companies nowadays derive their value from profits, quarterly earnings, and their stock price.
"It's like we've ripped the humanity out of our companies," he said, explaining that we don't value people based on their monthly income or credit score. "We have this double standard when it comes to the way we value businesses. You know what? It's threatening the very underpinnings of our society."
Right now, corporate profits in the US are at all-time highs. This, he said, is increasing income inequality.
"Higher profit margins do not increase societal wealth. What they actually do is exacerbate income inequality, and that's not a good thing."
He explained that if the top 10% of American families own 90% of the stocks, then they will take a greater share of those corporate profits and there's less wealth for the rest of society.
Tudor Jones said that income inequality in the US is "literally off the charts" and that's going to come along with "the greatest societal problems" such as lower life expectancy, teenage pregnancy, and lower literacy rates.
His solution is to advocate for justice in corporate behavior.
Tudor Jones recently formed a not-for-profit called JUST Capital with a mission to help companies by using the public's input to find out the criteria that would define justice.
"Now capitalism has been responsible for every major innovation that's made this world a more inspiring and wonderful place to live in," Tudor Jones said. "Capitalism has to be based on justice ... I'm not against progress. I want a driverless car and a jetpack like everyone else, but I'm pleading for recognition that with increased wealth or profits should come, has to come ... greater corporate social responsibility."
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Second view: Nick Hanauer Must read!
STOCK BUYBACKS ARE KILLING THE AMERICAN ECONOMY
Profits once flowed to higher wages or increased investment. Now, they enrich a small number of shareholders.
http://www.theatlantic.com/politics/archive/2015/02/kill-stock-buyback-to-save-the-american-economy/385259/
• Julia La Roche
• Mar. 19, 2015, 10:38 PM
Twitter.com/TEDNews
Paul Tudor Jones II.
Legendary hedge fund manager Paul Tudor Jones II gave a dire warning about the growing gap between the rich and the poor in the US during a sold out TED Talk in Canada this week.
"Now here's a macro forecast that's easy to make and that's that the gap between the wealthiest and the poorest it will get closed. History always does it. It typically happens in one of three ways– either through revolution, higher taxes or wars. None of those are on my bucket list," PTJ said, according to a video of the event viewed by Business Insider.
During his talk, Tudor Jones, who has an estimated networth of $4.6 billion, praised capitalism.
"It's a system I love because of the successes and opportunities it has afforded me and millions of others."
Over the last several decades, however, there's been a shift.
Tudor Jones continued: "I've seen a lot of crazy things in markets ... And unfortunately, I'm sad to report that right now we might be on the grips of certainly one of the most disastrous certainly in my career."
According to Tudor Jones, the problem has to do with how companies nowadays derive their value from profits, quarterly earnings, and their stock price.
"It's like we've ripped the humanity out of our companies," he said, explaining that we don't value people based on their monthly income or credit score. "We have this double standard when it comes to the way we value businesses. You know what? It's threatening the very underpinnings of our society."
Right now, corporate profits in the US are at all-time highs. This, he said, is increasing income inequality.
"Higher profit margins do not increase societal wealth. What they actually do is exacerbate income inequality, and that's not a good thing."
He explained that if the top 10% of American families own 90% of the stocks, then they will take a greater share of those corporate profits and there's less wealth for the rest of society.
Tudor Jones said that income inequality in the US is "literally off the charts" and that's going to come along with "the greatest societal problems" such as lower life expectancy, teenage pregnancy, and lower literacy rates.
His solution is to advocate for justice in corporate behavior.
Tudor Jones recently formed a not-for-profit called JUST Capital with a mission to help companies by using the public's input to find out the criteria that would define justice.
"Now capitalism has been responsible for every major innovation that's made this world a more inspiring and wonderful place to live in," Tudor Jones said. "Capitalism has to be based on justice ... I'm not against progress. I want a driverless car and a jetpack like everyone else, but I'm pleading for recognition that with increased wealth or profits should come, has to come ... greater corporate social responsibility."
****************************
Second view: Nick Hanauer Must read!
STOCK BUYBACKS ARE KILLING THE AMERICAN ECONOMY
Profits once flowed to higher wages or increased investment. Now, they enrich a small number of shareholders.
http://www.theatlantic.com/politics/archive/2015/02/kill-stock-buyback-to-save-the-american-economy/385259/
Erik - part of the Illuminati??? More on eleven ...
(Money attracts more money, this is a general principle and definitely not evil)
and those Facebook likes are most certainly from bots. :)
(Money attracts more money, this is a general principle and definitely not evil)
and those Facebook likes are most certainly from bots. :)
interesting to read how easy it is to cheat on chess.com:
www.facebook.com/pages/Say-NO-to-chesscom/1575359672726455
www.facebook.com/pages/Say-NO-to-chesscom/1575359672726455
chess.com has any time of the day more players online then all other chess sites alltogether, about 35 employees on the payroll and the times, yout received a week free premium membership for luring attention, are long time gone.
I think as #26 points out, we can't overlook that chess.com is a financial success, one that has not been seen in many other chess related sites. In an opensource platform, I believe the attention should be on what aspects of their success can we translate into a free and community maintaned scheme, rather than on what they *might* not be doing correctly. The latter may be making us feel better for ourselves for a limited time, but i see little real gain.
This thread isn't endorsed by the moderators.
However, whereas Chess.com removes any mention of any site that isn't chess.com on their forums (negative or positive), we allow any discussion (negative or positive) about other sites and competitors here.
I think the biggest aspects of chess.com's success are as follows:
i) the domain name
ii) the money
You want to play chess - so you type in "chess play online" or some similar variant, and chess.com is right at the top. No doubt chess.com gets a lot of traffic that way.
The money also really helps, once they have money they can pay for titled players to hold simuls/write articles. I would like to organise something similar here, but it may require some kind of crowdfunded pot fund.
However, whereas Chess.com removes any mention of any site that isn't chess.com on their forums (negative or positive), we allow any discussion (negative or positive) about other sites and competitors here.
I think the biggest aspects of chess.com's success are as follows:
i) the domain name
ii) the money
You want to play chess - so you type in "chess play online" or some similar variant, and chess.com is right at the top. No doubt chess.com gets a lot of traffic that way.
The money also really helps, once they have money they can pay for titled players to hold simuls/write articles. I would like to organise something similar here, but it may require some kind of crowdfunded pot fund.
I have no love for chess.com, but it is not true that they remove any mention of other chess servers/competitors.
http://www.chess.com/forum/search?keyword=fics (for example)
http://www.chess.com/forum/search?keyword=fics (for example)
Strange - they really hate lichess.
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