Post A3rDbQMkzddRwnNsqu by hund@fosstodon.org
(DIR) More posts by hund@fosstodon.org
(DIR) Post #A3r0pAKE89MoqcQHLM by hund@fosstodon.org
2021-02-02T05:48:27Z
1 likes, 1 repeats
I listened to the latest WAN Show from Linus Tech Tips today, and Linus mentioned the fact that he doesn't invest his money into the stock market, because he consider that to be an unethical thing to do as an "influencer".He also doesn't like people who Invest their money and let the money work for them. He values "hard work" and consider that to be adding true value to the world.I generally consider Linus to be a bright person, so this surprised me a bit.
(DIR) Post #A3r1hWEksZNwRXmUgi by michel_slm@floss.social
2021-02-02T05:58:16Z
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@hund he also doesn't need the investment income, I suspect. Many of us Western techies can't afford not to invest
(DIR) Post #A3r1rNPsWqKPyygVM0 by hund@fosstodon.org
2021-02-02T06:00:03Z
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@michel_slm Doesn't need to? Can't afford? What do you mean? :)
(DIR) Post #A3r3iS2WAc8Nchd61o by jbauer@pleroma.paritybit.ca
2021-02-02T06:11:03.226353Z
1 likes, 1 repeats
@hund It's a viewpoint I've heard before actually.Some of my close friends have the same opinion on investing in the market at large since, to them, it represents some of the worst aspects of capitalism: greed, short-term profit over long-term responsibility, and the idea that people should be given more say in something just because of the amount of money they have in it. All things Linus cited as reasons he will never make LMG publicly traded.He's not entirely wrong about the hard work thing either. When you invest in "the market" your money isn't really being used to create much value for the world as opposed to using that money to buy goods and services from local businesses. From my understanding, other than buying shares from an IPO, your money is really just going to buying and selling shares between brokers/funds which just serves to push the valuations of companies higher... it's all quite abstract really.
(DIR) Post #A3r3l1yTXJyBeUy7wO by posrev@counter.fedi.live
2021-02-02T06:21:22.766424Z
0 likes, 1 repeats
@jbauer @hund What does LMG stand for?
(DIR) Post #A3r6IpfdzIO7FNPEwq by lopeztel@fosstodon.org
2021-02-02T06:49:50Z
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@hund guess he was talking about the gamestop share shorting? I personally wouldn't have issues with influencers investing in the stock market as long as they don't try to get their followers to invest in x or y company ....
(DIR) Post #A3r6TjHw3d5gdbVqqW by hund@fosstodon.org
2021-02-02T06:51:48Z
1 likes, 0 repeats
@posrev @jbauer Linus Media Group.
(DIR) Post #A3r8gdJVmXlxmTWxjU by person@fosstodon.org
2021-02-02T07:16:33Z
0 likes, 0 repeats
@hund Why did this suprise you?
(DIR) Post #A3rAtGOMW1yMMZwwrY by hund@fosstodon.org
2021-02-02T07:41:14Z
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@lopeztel Yes and yes. Encouraging people to invest in a specific company is highly immoral and probably not even legal?
(DIR) Post #A3rBCO0cQ5gFUNxjVo by hund@fosstodon.org
2021-02-02T07:44:42Z
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@person Because it seems like a dumb idea to not let your money work for you, which means that your saved money looses its value over time due to inflation and the fact that you waste time on a job when you don't have to. :)
(DIR) Post #A3rBG6pGFSqrM3QQNc by spiral@anime.website
2021-02-02T07:26:13.200080Z
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@hund > I generally consider Linus to be a bright person, so this surprised me a bit.what is the connection between Linus being considered a bright person and this opinion being surprising (so, I guess unexpected) ?i don't really understand why you say this opinion is unexpected coming from a quote "bright person"~(please correct me if I am mis-interpreting your words)
(DIR) Post #A3rBG7GCdIP0hc1wNE by hund@fosstodon.org
2021-02-02T07:45:21Z
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@spiral Because it's a not so bright opinion.
(DIR) Post #A3rBKMMKRCZYglv2w4 by hund@fosstodon.org
2021-02-02T07:46:09Z
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@jbauer That's a long reply, I'll get back to you when I have the proper time for it. :)
(DIR) Post #A3rBL9Z7UQv3IdHSAy by lopeztel@fosstodon.org
2021-02-02T07:46:12Z
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@hund let's leave it at moral. There are legal loopholes everywhere. In any case investing in the stock market also requires some work. The fact that some people fall into traps for wanting to get rich fast is another issue
(DIR) Post #A3rBZpX8Fc2FVzLiPw by hund@fosstodon.org
2021-02-02T07:48:55Z
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@lopeztel It's little to no work. If investing your money is anything but boring, you're doing it wrong. :DThat's an issue related to the individual. You can physically hurt people with a computer, but that doesn't mean computers are bad. :)
(DIR) Post #A3rCGGHrAi6ueVRANk by person@fosstodon.org
2021-02-02T07:56:36Z
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@hund So Linus is right: you are getting payed for doing absolutely nothing. If you would rather exchange shares'n stuff to bring in tons of profit without providing anyone any valuable product or service than fine, don't expect me to have respect for your """""work""""" however.
(DIR) Post #A3rCW3HLIuP6wPj504 by lopeztel@fosstodon.org
2021-02-02T07:59:28Z
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@hund I'd say investing properly requires some research at the very least. Unless you use this magical apps that copy "what the experts do" 😂 (which is what I think about when I say people want to get rich fast)You're right about abusing the tools though
(DIR) Post #A3rCvvJbXDHXlv7XDU by jbauer@pleroma.paritybit.ca
2021-02-02T06:47:06.679189Z
1 likes, 0 repeats
@posrev @hund Linus Media Group. It's the company that owns Linus Tech Tips, Short Circuit, Techquickie, etc.
(DIR) Post #A3rDbQMkzddRwnNsqu by hund@fosstodon.org
2021-02-02T08:11:38Z
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@lopeztel You shouldn't invest in stocks directly, you should invest in passively managed index funds. Actively managed is good to, but they're usually more expensive and no one came predict the market anyway.If you straight up copy an 'expert', then you're an idiot. :P The expert have right about 45% of the times or something like that. It doesn't matter how good you are, you can't predict things like covid-19.
(DIR) Post #A3rDusMn70FMI8fwLA by hund@fosstodon.org
2021-02-02T08:15:09Z
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@person I'm getting paid by letting my money work for me. So, yes, I'm basically doing nothing and it's great!The money I invest goes towards a lot of people and they do a lot of good. It creates job opportunities and new products, like perhaps your new computer or research for a sustainable future.I'm contributing just as much as anyone else.
(DIR) Post #A3rIEn4MuqTZTGoHJI by cybernomad@mastodon.technology
2021-02-02T09:03:33Z
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@hund @person as @jbauer said, If you're not buying at the IPO your money will not provide job opportunities nor will it create new products, the money you use to buy stocks after the IPO will just go to whoever sold you that stock.All what your money is doing is evaluating the company and making the evaluation public in the shape of $ for each stock.Btw, I'm not an expert in this shit, but if I got anything wrong please tell me 😃
(DIR) Post #A3rIa4QHaijRNCCu5g by cybernomad@mastodon.technology
2021-02-02T09:07:25Z
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@hund @person Linus might not be investing his money in stock but I know that they're hiring people at a high speed.And I know he talked about reinvesting the money in the company and that will provide job opportunities.So it's not like he's not putting his money to good use and just has it laying around.
(DIR) Post #A3rK8bZmvzW9zpgVKi by wizzwizz4@fosstodon.org
2021-02-02T09:24:51Z
1 likes, 0 repeats
@hund I'm a little disappointed that you consider this "not a bright view".The stock market is a horrible mass of perverse incentives that parasitises on our economic system. (Hyperbole.) Some problems include:• Betting on bets, which apparently American people's retirement money's now in(‽);• Trading votes in a company: stock traders want money, so publicly-traded companies have yet another incentive to turn evil;• Algorithmic trading siphons money from the poor to the rich, on average.
(DIR) Post #A3rKXOinrezHMsiuH2 by marian_mizik@fosstodon.org
2021-02-02T09:29:20Z
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@hund @person @lopeztelI have been investing in the past. To precious metals and passive indexes. But I have quit years ago. My reasons were close to what Linus said. Your money on the market may do good as you've said and they may do the opposite too by creating stock market bubbles, by overpricing value of certain companies. Following market corrections causes many people loosing their jobs and money. By ivesting into passive index you let others (the market) decide how your...
(DIR) Post #A3rTdIwTAHjAlg0UW8 by rlamacraft@qoto.org
2021-02-02T11:11:14Z
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@hund It would be unethical for him to buy stocks in the companies whose products he’s reviewing, I agree, but through index funds or something that would be just fine. I also agree that making money from the stock market isn’t contributing much of value to the world but that doesn’t make it immoral to do nor mean he can’t continue to do what he does. Just seems like a bit of a weird opinion for him to hold in my opinion.
(DIR) Post #A3rXhcXCf6uMVYVD4C by Tay0@fosstodon.org
2021-02-02T11:56:51Z
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@hund He wears sandals with socks and lives in a very rainy climate.
(DIR) Post #A3rXzF5gZ3L10j2AQC by hund@fosstodon.org
2021-02-02T12:00:02Z
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@Tay0 Haha! That's because he have very warm feets. He talked about it once. It apparently takes days for his badminton does to dry.
(DIR) Post #A3rhrVRUsrx8wxBaaW by Biscuit@fosstodon.org
2021-02-02T13:50:37Z
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@hund that's quite interesting - good on him.You seem to be suggesting that not investing his money to increase his wealth is indicative of a lack of intelligence?I doubt that Torvalds is eating baked bean sandwiches for dinner, why do you think that his decision (which seems to be influenced by his morality) is a poor choice?Furthermore, what kind of work does money do for one? I thought that only animals could work, and that money was one way to compel humans to work....
(DIR) Post #A3sxWyh6ixyO13gGnY by shellkr@mstdn.io
2021-02-03T04:21:01Z
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@hund It is a game and the one who control it is usually the winner. The more money you have the more risk you can take on and the more you can win. So it is rigged. As a small player you can get lucky but the usual outcome is that you lose eventually. So I agree it is kinda unethical... but on the other hand people do it through their own will.This is what makes the GameStop debacle so interesting. They gamed the game. ;)
(DIR) Post #A3t6BgJEmctcVCR4SW by hund@fosstodon.org
2021-02-03T05:58:01Z
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@shellkr That's not how it works at all.