CEO Shares Examples Of How The Wealthy Are Using The Stock Market To Take Advantage Of The Poor

The stock market is once again in the spotlight with the GameStop stock rollercoaster and the ongoing clash between small investors from the r/wallstreetbets online community and Wall Street. The more information we have, the more confused we become.

Does the stock market accurately represent the real value of a company? Do corporations that are socially responsible and respect their workers have a higher stock market value? Not really.

Dan Price, the CEO of Gravity Payments, started a Twitter thread in which he illustrates that there’s no relation between the stock market and reality, and that the whole system is based on the rich exploiting the poor.

Businessman Dan Price, who sees his workers as equals, described how the stock market is all about the rich exploiting the poor

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Sam Dogen from the Financial Samurai blog explained that the entire financial system has created an extreme contrast between the privileged and those of us who are average. "CEOs have no magical powers. Yes, they have the operational experience to run large companies. However, they are often just spokespeople and ambassadors of the firm. One person cannot make that significant a difference in a large organization. If Tim Cook from Apple steps down, the company will be fine. Another overpaid CEO will take his place," Sam clarified, noting that while CEOs are essential, they aren't almighty...

"The reason why CEOs can be paid so much is due to the direct correlation with the size of the company. When a company is worth hundreds of billions of dollars, it's easier to pay a CEO tens of millions of dollars a year, which is comprised mostly of stock options," Sam explains. "At the end of the day, the CEO and the Board of Directors' goal is to provide as much value and returns as possible for their shareholders. And if that means firing thousands of employees, then that is what they will do. It is a sad reality of extreme capitalism."

Sam stated that the employment situation doesn't look promising. "Now, a company can more easily hire a hungry person from a developing country who is willing to earn much less. The work-from-home trend is here to stay. Another trend we should see is more people becoming freelancers instead of full-time employees. The ability to work from home has created more solopreneurs who see greater business opportunities by taking on multiple clients at once."

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Dan caught the public’s attention when he decided to cut his own pay by a million dollars so that all of his workers could earn at least $70,000 per year.

With this viral Twitter thread, which received 18.1k likes, Dan provides many examples of how highly valued companies that regularly mistreat their workers (many of whom lost their jobs) end up paying enormous sums to their CEOs.

While Dan is correct in stating that unemployment is a massive problem in the US, the situation isn’t as dire now as it was in the early months of the pandemic.

Of course, it’s far from being good. Many people are struggling to make ends meet, and companies like these are exacerbating the situation.

DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle DanPriceSeattle Image credits: DanPriceSeattle What do you think of Dan’s arguments, dear Pandas? Do you believe that the stock market is connected to reality? What can be done to change companies that reward their management at the expense of their employees? Bored Panda works best if you switch to our Android app. Bored Panda works better on our iPhone app! Follow Bored Panda on Google News! Follow us on Flipboard.com/@boredpanda!