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lombardo

Bigh tech could cause the next crisis

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https://www.theguardian.com/business/2019/nov/08/how-big-tech-is-dragging-us-towards-the-next-financial-crash

Quote

Like most of the largest and most profitable multinational companies, Apple has loads of cash – around $210bn at last count – as well as plenty of debt (close to $110bn). That is because – like nearly every other large, rich company – it has parked most of its spare cash in offshore bond portfolios over the past 10 years

It's a great article.

Even though the article doesn't state it, the author is a very high ranking economic analyst 

Edited by lombardo

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All the billions lent to a money losing company like uber is basically betting on it eventually becoming a monopoly, then being able to hike prices to make a profit. Surely this cant be good for capitalism? 

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Like anything seen as too big to fail, they in the end are the power and control....the key is do not get dependant, rely to much, or addicted, or to the point that one day when it no longer works nothing works....😉

 

But of course there is or should always be a backup... because nothing should become that big and important to make all else fail.

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All these 'offshore' locations are just a wheeze.  Send one of our newly built aircraft carriers and a platoon of Royal Marines to formally 'conquer' them and put them under Governmental control.  Agree with the US how to divide them up and we have a cash bonanza.

 

Either that or recreate Sterling 1:1 for any onshore cash - watch the cash flood in

Edited by msi
Additonal Point

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On 08/11/2019 at 17:12, nothernsoul said:

All the billions lent to a money losing company like uber is basically betting on it eventually becoming a monopoly, then being able to hike prices to make a profit. Surely this cant be good for capitalism? 

Big Tech is basically just an outlet for all that credit at artificially low interest rates.

I would have said that Apple was the exception as they make real stuff rather than sell advertising or exploit people who can't get real jobs, but they're going to crap lately too.

Edited by MarkG

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Ah yes... blame the new boys n girls.

The contribution by 'big tech' to the general fuxedupness fior the under 50s has been pretty much zilch.

In fact, by lowering costs of goods and services, bigtech has been a positive  for the under 50s.

The next crisis will be caused by the usual suspects - banks n governments. And the next, and the next etc etc.

 

 

 

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On 10/11/2019 at 01:10, MarkG said:

Big Tech is basically just an outlet for all that credit at artificially low interest rates.

I would have said that Apple was the exception as they make real stuff rather than sell advertising or exploit people who can't get real jobs, but they're going to crap lately too.

Apple is real stuff but very overpriced stuff. The people have woken up to that fact they don't need a £1000 phone

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Yeah, but iPhones used to be better than the competition and supported for much longer, which justified a higher price. Now ever OS release comes with new bugs and buggers up the user interface more in the Apple apps.

And, as you say, a thousand quid for a phone is taking the piss.

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On 11/11/2019 at 03:10, bear.getting.old said:

Apple is real stuff but very overpriced stuff. The people have woken up to that fact they don't need a £1000 phone

They have shut out very many new potential life long customers simply by having such a high priced entry point....millions now have got used to android and have no reason to change now.....their next upgrade will be what they are used to using that works.😉

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It could be cyber crime and security.....when so many things are now run by these systems.....when you leave turn the lights out.😉

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11 hours ago, winkie said:

It could be cyber crime and security.....when so many things are now run by these systems.....when you leave turn the lights out.😉

Just wait until Amazon's 'cloud' goes down for a week.

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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