Tencent next please.
this post was submitted on 03 Feb 2024
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Quickly before they fuck up D&D even further
That wasn't real. It was someone misunderstanding a licensing proposal.
Does it hurt anyone other than investors? Because I could not possibly care less about investors.
Probably won't hurt the investors, they'll get paid. But all the individual contractors who worked for the company are very unlikely to actually see payment.
The company owes $300B on $245B of assets. Unsecured creditors are among the last on the list to be paid back, and at least some of those are contractors who did work for the company and haven't been paid yet.
Hurts the customers, like lower-middle class people that put their life savings down to buy a home and never got one.
"investors" in this case include middle class Chinese citizens, I think that's worth caring about
That's the problem with investors, if they're not making more money than last year they find a way to fuck the rest of us. Either they pressure companies to lay off workers, they pressure the government to cut taxes, lower pesky labour and environmental regulations, or just handover cash in the form of a subsidy or bailout.
Either way they get our money somehow and enshittify our lives. If there's no hell we'll need to invent a special kind of justice for these people.
I care a lot about what happens to them. I hope there is a hell just so they can burn in it.
The thing with debt is that every time someone (or something) that owes a world-changing amount of it suddenly goes kaput, it becomes pretty clear how much of the debt system is made up.
If Evergrande owes banks, they'll just write off the debts and pretend it never existed. If they owed companies, they'll recoup "lost" money from assets and loans from someone else.
Most of the debt system is arbitrary and totally nonexistent. This wont be the collapse of the chinese economy like ""china waters"" claimed it would be; for a capitalist country masquerading as a classless economic system they're doing capitalism a lot better than most of the world right now.
Until it gets down to paying small businesses and individual contractors, then all of a sudden the money is all gone and I don't even recognize you, señor.
They just write it off 😃
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Won't someone please think of the investors!
Finally it's only been, what, two and a half years since they went bankrupt?
and will hurt investors
breaks out world’s tiniest violin
Investors can go suck it, I’m in the corner of the working class.
Even here the system will be rigged in favor of big investors vs small investors vs people who bought an asset and will get squat. Because working class who gave them money upfront to purchase an appt or house will be the last one in the collectors queue.
But your response is accurate to the "claim" that investors will be hurt. Media is so messed up that they don't even mention the customers that will get the worse impact than investors.
That's literally what the return on all the other investment is for: the assumption of risk.
I guess it's the same shift in mentality as the credit card processing machine asking for a tip for everything by default.
So you're in the corner of the working class, and playing the tiniest violin at their suffering?
Are you sure you just an awful person, or do you not read?
I don't think you quite understand that in this case, it's millions upon millions of working and middle class people who put most of their life's savings into this.
Oh boohoo, did someone who enthusiasticly supports capitalism play and loose? Good, welcome to the extreme shittiness of a global free market.
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