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Joined 2 years ago
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Cake day: September 13th, 2023

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  • Well of course it’s debt, but the debt is guaranteed by Ellison’s personal Oracle stock. Which means that:
    One - if the new Paramount/WB gets in to trouble (always a possibility with any media company) He might be required to sell chunks of his Oracle stock which would lower their value getting him in a destructive spiral of having to sell off increasing amounts Oracle stock at increasing lower values just to cover his personal loan. Which would leave Oracle open to a stock holders lawsuit too.
    Or (and I think this is the much likelier scenario) - There’s a AI stock crash and now David Ellison and the new Paramount/WB is left holding the bag for a shit ton of Oracle stock which is now worthless and are scrambling to pay stockholders.
    Either way I’d expect a suit from anyone holding Oracle stock pretty soon.









  • Interestingly, The Tragedy of the Commons really does work with psychopaths, so once you move from a person to person level to corporations interacting the Tragedy of the Commons problem becomes a serious issue. Take a minimum wage, it necessary for the population as a whole to have surplus wealth to spend to keep an economy going. Individual companies, on the other hand, have an incentive to pay their own employees a pittance. If every company does that then there’s no surplus wealth for people to purchase most goods and slowly the economy grinds to a halt. Hence it’s in society’s best interest to have a healthy and large minimum wage (or better yet a UBI system) which will have to be enforced on companies by an outside force.