2026-07-01 04:44:56
Most capitalists, as a class, don't think "oh, we should fire people to make sure we don't lose control." But, as here, a few people do. All it takes is a few because you have highly class aware companies like BlackRock, which own enough stock to just force boards to force CEOs to lay people off. Strongly worded letters from private equity can kick off firing sprees in FAANG. Everyone else just follows their lead because "they must have some information we don't" or "they're smart, so we should follow their lead."
It takes a very tiny portion of the capitalist class to maintain the system. It mostly acts without any centralized control channel. That's one of the the things that makes the system so stable.













































































