All your stupid jokes about "LOL and they kept Blockbuster running for HOW long, when EVERYONE could see it was old and stupid and on the way out?!" Well the new generation of financiers are determined to kill off those businesses and jobs before you can make those jokes again
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I had this exact conversation with someone a few years ago about Sears.
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Similarly, the UK Conservatives were referred to as 'the party of business' again last week. I thought 'No they're not, they're the party of investors. People who pull their money out of businesses because they aren't competent enough to save them.' ...or deal with Brexit/Covid.
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Getting a *"Grandma was sick and dying we were doing her a mercy" where Grandma still had 5 good years or more before her and the kids were just in a hurry to cash in on the sale of her house* vibe
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The even better part is when they kill a reasonably profitable business trying to convert it into a very profitable business. A business that reliably turns in 10% profit *needs* to cut costs or grow sales, or die trying. And “die trying” happens a LOT
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The artificial expectation from the investor class of endless growth is why you see shrinkflation in food products, production getting offshored, customer service getting offshored, and ingredients getting cheapened. The demands of capital erode the foundation of the economy.
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Trying to pull the plug on your healthy 65-year-old grandmother who's just in to get her tonsils out because you're in the will.
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