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Joined 1 year ago
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Cake day: June 13th, 2023

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  • Important to point out that their wealth is largely unrealized gains, that is, only exists in theory. If the stock market / bond market / whatever market crashed, this wealth would largely vaporize. Stock prices are essentially a mass agreed-upon hallucination, as they can be extremely divorced from real assets like industrial machines. It does mean that by controlling these stock etc assets, other people have a harder time getting into this slice of pie and they can do dumb shit like buying Twitter and summarily running it into the ground.






  • Oh ffs, being a private landlord owning a few houses for rent is not a risk-free endeavor and not purely parasitic. You typically have to fix up the properties first (an investment), do work to vet renters, manage the property (maintenance effort/time/cost), and absorb the risk of bad renters destroying the interior. The landlord has to invest their own time and money to provide a livable shelter to others, who exchange money for not having to deal with all the above listed. That livable shelter is a big freaking deal, or why else would someone choose to spend money on it?

    Companies developing monopolies on rental markets is a very different scenario, and I don’t think it should be legal. Small private landlords? Yes.