Submitted by Oktay_LS t3_yfjjl5 in dataisbeautiful
tthrivi t1_iu4577v wrote
So…why does apple need to raise the price of their services. Jeez.
Yossarian216 t1_iu48of6 wrote
Because capitalism is at its core a cancerous philosophy that demands constant growth? Like literally if Apple were to announce that their profits were simply going to stay at current levels, which is extremely profitable as this chart shows, their stock price would tank. And since executives are not only compensated by stock price but are often contractually obligated to keep prices high for shareholders, they have to constantly be increasing profit. It’s a completely perverse set of incentives hyper focused on short term outcomes, and it’s destroying the world.
londoncatvet t1_iu49rrg wrote
So...you're not a capitalist?
Yossarian216 t1_iu4bub9 wrote
I’m someone who thinks capitalism needs to be regulated and restrained in order to keep it from destroying the world, and we are failing miserably at this task. The banks that created the financial crisis in 2008 but were “too big to fail” are all even bigger now. Big companies control far too much already and are getting bigger all the time. How many people can live and work in our current society without being a customer of Apple or Google or Microsoft? That growth mentality, it infects everything we are currently doing. It’s why oil companies are price gouging us to raise their profits, which are then being used on stock buybacks to bump the stock price. It’s toxic, and it hurts and kills people, and it’s the primary driver behind climate change, which will eventually destroy human society.
So no, not really a capitalist.
TonyTheEvil t1_iu4j6ik wrote
Most people aren't, given hardly anyone actually owns any means of production
insightful_pancake t1_iu4kmmv wrote
> Most people aren’t given hardly anyone actually owns any means of production
This reads like you just had a stroke. Not trying to offend, I just have no idea what you are trying to convey.
TonyTheEvil t1_iu4kpt7 wrote
Good point, added helpful comma
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