this post was submitted on 13 Jun 2024
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Google is operating at a 24% net profit margin. They don't need to get their shareholders more money...
Do you actually understand how this works? It’s a beautiful statement and oh so noble, but it just flies against how the world really works.
At some point, maybe not today, but at some point, you’re going to be saving up for your retirement. Your money will be invested; either passively or actively. If active, a fund manager (or maybe even yourself) will be spending time, every single day, wondering how to maximise the invested cash. If passive, you’re letting a WHOLE lot of fund managers make the decisions for you (wisdom of the crowd). Either way, Google better fucking perform or the investors will go elsewhere.
And you’ll be an investor too, asking for Google to do better than anyone else or you’ll take your savings elsewhere.
Millennials and zoomers are not saving up for retirement, barely able to sustain themselves. They're also expecting ecological collapse to cause global famine or their own nation to go full Reich, assuming they're not killed by hurricanes, wildfire or war.
Agreed, many young people can’t save. That’s why I said “maybe not today, but at some point”. I’m not saying it’s easy for young people, I’m trying to explain why companies seek to increase profitability and that almost every investor is self-centred.