>Under financialised logic it is absolutely immaterial whether Twitter, Uber or whatever make a penny. Ever. Or whether any of the stakeholders are served. The rules of traditional business go out the window.
What makes you think that shareholders in Twitter or Uber don't care that they'll never make a penny? They're not turning a profit now, but it seems at least somewhat plausible that they'll make money in the future. Under that assumption (ie. future expected earnings), it seems perfectly consistent with "rules of traditional business".
>Under that system, Uber is successful so long as the financial market says it is. When it decides it's not successful, it's not. One has to realise that a total detachment of political economics and power has taken place.
Congratulations. You just discovered "the price of something is what someone is willing to pay for it", not its actual utility.
What makes you think that shareholders in Twitter or Uber don't care that they'll never make a penny? They're not turning a profit now, but it seems at least somewhat plausible that they'll make money in the future. Under that assumption (ie. future expected earnings), it seems perfectly consistent with "rules of traditional business".
>Under that system, Uber is successful so long as the financial market says it is. When it decides it's not successful, it's not. One has to realise that a total detachment of political economics and power has taken place.
Congratulations. You just discovered "the price of something is what someone is willing to pay for it", not its actual utility.