I don't understand why people are unhappy when SO MUCH shareholder value is being created.
Since ChatGPT's initial release, the S&P 500's combined market cap has grown by about $33 trillion, roughly doubling. Before that, it took 31 years to add the same amount.
Isn't that what we should all care about, making sure capital holders get more capital? As long as BlackRock's assets under management keep growing, we should be happy. Trickle-down economics will definitely trickle down eventually.
(Since Hacker News is unusually tough on sarcasm, I grudgingly have to end this with /s)
zirkonit · · focus · HN ↗
Since ChatGPT's initial release, the S&P 500's combined market cap has grown by about $33 trillion, roughly doubling. Before that, it took 31 years to add the same amount.
Isn't that what we should all care about, making sure capital holders get more capital? As long as BlackRock's assets under management keep growing, we should be happy. Trickle-down economics will definitely trickle down eventually.
(Since Hacker News is unusually tough on sarcasm, I grudgingly have to end this with /s)