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Record profits are unpaid wages
(mstdn.ca)
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this post was submitted on 12 Aug 2023
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I might need a /s here, cuz I can’t tell.
If not: The most profitable companies are those that either: are monopolies (of the consumer and/or labor side), operate as banks, or operate as limited-liability speculative arms of banks.
No ingenuity required, only “I have money on hand, so I win”.
The most profitable companies also do the utmost to treat employees as contractors and avoid paying employer taxes, social security and health insurance.
Uber is just waiting for self driving cars and will fire all their contractors the day it happens. Amazon will fire all their delivery guys once drones work as intended.
Which of those is Apple? Is it really a monopoly?
Oligopoly. We are witnessing how useless the offices for competition have been for decades. And they punish borrowers with higher interest rates.